QUESTION 22 On January 3, 2020, Bob Corp. purchased 25% of the voting common stock of Jeremy Co. paying $2,400. Bob decided to use the equity method to account for this investment. At the time of the investment Jeremy's total stockholders' equity was $8,000. Bob gathered the following information about Jeremy's assets and liabilities: Buildings (10 year life) Equipment (6-year life) Franchises (8-year life) Book Value $ 400 1.000 $ 0 Fair Value 5 500 1,300 $ 400 For all other assets and liabilities, book value and fair value were equal. Any excess of cost over fair value was attributed to goodwill, which has not been impaired. For 2020, what is the total amount of excess amortization for Bob's 25% investment in Jeremy? 530 5120 570 520 $27.5