Parker, Inc., acquired 10 percent of Simon Corporation on January 1, 2019, for $462,000 although Simons book value on that date was $3,740,000. Simon held land that was undervalued by $220,000 on its accounting records. During 2019, Simon earned a net income of $528,000 while paying cash dividends of $198,000. On January 1, 2020, Parker purchased an additional 30 percent of Simon for $1,320,000. Simons land is still undervalued on that date, but then by $264,000. Any additional excess cost was attributable to a trademark with a 10-year life for the first purchase and a 9-year life for the second. The initial 10 percent investment had been maintained at cost because fair values were not readily available. The