Plastic Company purchased 100 percent of Spoon Company’s voting common stock for $648,000 on January 1, 20X4. At that date, Spoon reported assets of $690,000 and liabilities of $230,000. The book values and fair values of Spoon’s assets were equal except for land, which had a fair value of $108,000 more than book value, and equipment, which had a fair value of $80,000 more than book value. The remaining economic life of all depreciable assets at January 1, 20X4, was five years. Spoon reported net income of $68,000 and paid dividends of $34,000 in 20X4.

Required

Compute the amount of investment income to be reported by Plastic for 20X4.