On January 1, 20X8, Package Company acquired 80 percent of Stamp Company's common stock for $224,000 cash. At that date, Stamp reported common stock outstanding of $130,000 and retained earnings of $100,000. The book values and fair values of Stamp's assets and liabilities were equal, except for other intangible assets which had a fair value $50,000 greater than book value and an 8-year remaining life. Stamp reported net income of $30,000 for 20x8. Package reported separate operating income of $100,000 for 20x8. Based on the preceding information, what is the amount of consolidated net income reported for 20X8? Group of answer choices $123,750 $125,000 $118,750 $130,000