On January 1, 20X9, Pallet Company acquires 80 percent ownership in Slat Corporation for $200,000. The fair value of the noncontrolling interest at that time is determined to be $50,000. Slat reports net assets with a book value of $250,000 and fair value of $250,000. Pallet Company reports net assets with a book value of $600,000 and a fair value of $650,000 at that time, excluding its investment in Slat. What will be the amount of consolidated net assets that would be reported immediately after the combination?

a.$900,000

b.$800,000

c.$850,000

d.$680,000