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Saturn Corporation issued $300,000 par value 10-year bonds at 107 on January 1, 20X3, which Star Corporation purchased. On July 1, 20X7, Pluto Corporation purchased

Saturn Corporation issued $300,000 par value 10-year bonds at 107 on January 1, 20X3, which Star Corporation purchased. On July 1, 20X7, Pluto Corporation purchased $120,000 face value of Saturn bonds from Star. The bonds pay 12 percent interest annually on December 31. The preparation of consolidated financial statements for Saturn and Pluto at December 31, 20X9, required the following consolidating entry:

Bonds Payable 120,000
Premium on Bonds Payable 2,520
Interest Income 14,760
Investment in Saturn Corporation Bonds 118,920
Interest Expense 13,560
Investment in Saturn Corporation Stock 3,120
NCI in NA of Saturn Corp. 1,680

Based on the information given above, what percentage of the subsidiary's ownership does the parent company hold?

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