Porter Corporation owns all $30,000$ shares of the common stock of Street, Incorporated. Porter has $65,000$ shares of its own common

stock outstanding. During the current year, Porter earns net income $($without any consideration of its investment in Street$)$ of $$253,000$

while Street reports $$201,000.$ Annual amortization of $$12,000$ is recognized each year on the consolidation worksheet based on

acquisition$-$date fair$-$value allocations. Both companies have convertible bonds outstanding. During the current year, bond$-$related

interest expense $($net of taxes$)$ is $$55,000$ for Porter and $$51,000$ for Street. Porter's bonds can be converted into $8,000$ shares of

common stock; Street's bonds can be converted into $10,000$ shares. Porter owns none of these bonds.