Public corporation acquired 90 percent of station company’s voting common stock on january 1, 20x1, for $492,300. at the time of the combination, station reported common stock outstanding of $121,000 and retained earnings of $386,000, and the fair value of the noncontrolling interest was $54,700. the book value of station’s net assets approximated market value except for patents that had a market value of $40,000 more than their book value. the patents had a remaining economic life of five years at the date of the business combination. station reported net income of $60,000 and paid dividends of $23,000 during 20x1. required: a. what balance did public report as its investment in station at december 31, 20x1, assuming public uses the equity method in accounting for its investment

John and daphne are saving for their daughter ellen's college education. ellen just turned 10 at (t = 0), and she will be entering college 8 years from now (at t = 8). college tuition and expenses at state u. are currently $14,500 a year, but they are expected to increase at a rate of 3.5% a year. ellen should graduate in 4 years--if she takes longer or wants to go to graduate school, she will be on her own. tuition and other costs will be due at the beginning of each school year (at t = 8, 9, 10, and 11).so far, john and daphne have accumulated $15,000 in their college savings account (at t = 0). their long-run financial plan is to add an additional $5,000 in each of the next 4 years (at t = 1, 2, 3, and 4). then they plan to make 3 equal annual contributions in each of the following years, t = 5, 6, and 7. they expect their investment account to earn 9%. how large must the annual payments at t = 5, 6, and 7 be to cover ellen's anticipated college costs? a. $1,965.21b. $2,068.64c. $2,177.51d. $2,292.12e. $2,412.76