Plastic Company purchased $100$ percent of Spoon Company's voting common stock for $$665,000$ on January $1,20$X$4.$ At that date,

Spoon reported assets of $$701,000$ and liabilities of $$231,000.$ The book values and fair values of Spoon's assets were equal except

for land, which had a fair value of $$125,000$ more than book value, and equipment, which had a fair value of $$70,000$ more than book

value. The remaining economic life of all depreciable assets at January $1,20$X$4,$ was ten years. Spoon reported net income of $$82,000$

and paid dividends of $$50,000$ in $204.$

Required:

Compute the amount of investment income to be reported by Plastic for $20$X$4.$

Investment income