The individual financial statements for Absom, Inc. and Deter Company for the year ended December 31, 2017, are shown below.Absom acquired an 80 percent interest in Deter on January 1, 2015, in exchange for various considerations totaling $1,025,000.At the acquisition date Deter's book value was $1,125,000.Deter owned equipment that was undervalued at the date of acquisition by $50,000, with a ten-year remaining life.In addition, Deter had fully amortized trademarks with a remaining five-year life and a fair value of $80,000.