Redfield Company reports current earnings of $497,000 while declaring $20,000 in cash dividends. Snedeker Company earns $145,000 in net income and declares $5,000 in dividends. Redfield has held a 70 percent interest in Snedeker for several years, an investment with an acquisition-date excess fair over book value attributable solely to goodwill. Redfield uses the initial value method to account for these shares.

On January 1 of the current year, Snedeker acquired in the open market $69,200 of Redfield's 8 percent bonds. The bonds had originally been issued several years ago for 92, reflecting a 10 percent effective interest rate. On the date of purchase, the carrying amount of the bonds payable was $65,400. Snedeker paid $61,600 based on a 12 percent effective interest rate over the remaining life of the bonds.

What is the noncontrolling interest's share of consolidated net income?

(a) $43,500

(b) $44,640

(c) $42,000

(d) $43,100