Perry Company reports current earnings of $420,000 while declaring $52,000 in cash dividends. Swen Company earns $147,000 in net income and declares $13,000 in dividends. Perry has held a 70 percent interest in Swen for several years, an investment with an acquisition-date excess fair over book value attributable solely to an indefinite-lived intangible.

On January 1 of the current year, Swen acquired in the open market $51,600 of Perry’s 8 percent bonds. The bonds had originally been issued several years ago at 92, reflecting a 10 percent effective interest rate. On the date of purchase, the carrying amount of the bonds payable was $50,400. Swen paid $49,200 based on a 12 percent effective interest rate over the remaining life of the bonds.

What is the noncontrolling interest’s share of consolidated net income?
a. $40,200
b. $44,100
c. $40,560
d. $44,460