Problem 2 (15 points) On January 1. Year 1. Reaser Corporation (RC) acquired 15 percent (15.000 shares of S2 par common stock) of Vega Corporation (VC) for $60 per share. On 1/1/Year the book values of VC's net assets equaled their fair values. During year 1, VC had net income of $700,000 and paid dividends of $250.000 On January 1". Year 2, Reaser Corporation purchased an additional 55,000 shares of VC for $70 per share. On January 1". Year 2 Vega Corporation has the following general asset and liability accounts: Difference $ 0 60,000 Current Assets PPE (15-year life) Copyrights (10-year life) Trademarks (20-year life) Land Liabilities Total Net Assets Book Value Fair Value $1,000,000 $1,000,000 4,600,000 4,660.000 0 40,000 250,000 450,000 1,000,000 1,100,000 (400.000) (400,000) $6,450,000 $ 6,850,000 200,000 100,000 0 $ 400,000 a) Determine the acquisition-date fair value of Vega. b) Determine the revaluation gain (or loss) reported by Reaser on January 1". Year 2 with respect to its 15 percent purchase made on January 1". Year 1