The financial balances for the Atwood Company and the Franz Company as of December 31, 2020, are presented below. Also included are the fair market values for Franz Company's net assets.

Atwood Franz Co. (in thousands) (in thousands) Book Value Book Value FMV FMV Excess Balance Sheet December 31,2020 December 31,2020 December 31,2020 December 31,2020 Cash $870 $240 $240 $0 Receivables 660 600 600 0 Inventory 1,230 420 580 160 Land 1,800 260 250 (10) Buildings (net) 1,800 540 650 110 Equipment (net) 660 380 400 20 Accounts Payable (570) (240) (240) 0 Accrued Expenses (270) (60) (60) 0 Long-term Liabilities (2,700) (1,020) (1,120) (100) Common Stock ($20 par) (1,980) (420) Common Stock ($ 5 par) Additional paid-in capital (210) (180) Retianed earnings (1,170) (480) Revenues (2,880) (660) Expenses 2,760 620

Note: Parenthesis indicate a credit balance . In the following situations, determine the value that would be shown in the consolidated financial statements for Atwood Company at date of acquisition.

Assume a purchase took place at December 31, 2020. Atwood issued 50 shares of its common stock with a fair market value of $35 for all of the outstanding common shares of Franz. Stock issuance costs of $15 and direct costs of $10 were paid. Atwood is applying the acquisition method in accounting for Franz. To settle a difference of opinion regarding Franz's fair value, Atwood promises to pay an additional $41,600 to the former owners if Franz's earnings exceed a certain sum during the next year. Given the probability of the required contingency payment and utilizing a 4% discount rate, the expected present value of the contingency is $5.

What is the Consolidated Equipment at date of acquisition ?