Reeder Corporation acquired one hundred percent of ONeill Incorporated on January 1, 2022, at a price in excess of the subsidiary's fair value. On that date, Reeders equipment (ten-year life) had a book value of $380,000 but a fair value of $460,000. ONeill had equipment (ten-year life) with a book value of $240,000 and a fair value of $370,000. Reeder used the partial equity method to record its investment in ONeill. On December 31, 2024, Reeder had equipment with a book value of $270,000 and a fair value of $400,000. ONeill had equipment with a book value of $180,000 and a fair value of $300,000. What is the consolidated balance for the Equipment account as of December 31, 2024?

Multiple Choice

$567,000

$580,000

$531,000

$541,000

$450,000