Tic Inc. purchased an 80% controlling interest in Tac Inc. on January 1, Year 2, for $300,000 when Tac's common stock and retained earnings were carried at - 180,000 and $60,000 respectively. On that date, Tac's carrying values approximated its fair market values, with the exception of the company's inventories and a patent held by Tac. The patent, which had an estimated remaining useful life of ten years, had a fair market value which was $20,000 higher than its carrying value. Tac's Inventories on January 1, Year 2 were estimated to have a fair value that was $16,000 higher than their carrying value. It was predicted that Tac's goodwill impairment test, which was to be conducted on December 31, Year 3, would result in a loss equal to 10% of the goodwill (regardless of the amount) at the date of acquisition being recorded. During Year 2, Tac reported a net income of $60,000 and paid $12,000 in dividends. Tac's Year 3 net income and dividends were $72,000 and $15,000, respectively. Tac uses straight-line amortization for all of its assets. Tic Inc. purchased an 80% controlling interest in Tac Inc. on January 1, Year 2, for $300,000 when Tac's common stock and retained earnings were carried at - 180,000 and $60,000 respectively. On that date, Tac's carrying values approximated its fair market values, with the exception of the company's inventories and a patent held by Tac. The patent, which had an estimated remaining useful life of ten years, had a fair market value which was $20,000 higher than its carrying value. Tac's Inventories on January 1, Year 2 were estimated to have a fair value that was $16,000 higher than their carrying value. It was predicted that Tac's goodwill impairment test, which was to be conducted on December 31, Year 3, would result in a loss equal to 10% of the goodwill (regardless of the amount) at the date of acquisition being recorded. During Year 2, Tac reported a net income of $60,000 and paid $12,000 in dividends. Tac's Year 3 net income and dividends were $72,000 and $15,000, respectively. Tac uses straight-line amortization for all of its assets