Porter Corporation is a primary beneficiary for Vince Company, a variable interest entity. When Porter obtained financial control over Vince, any excess fair value over Vince’s book value was attributed solely to in-process research and development with an indefinite life. Porter owns 15 percent of Vince Company’s common stock and participation rights that entitle it to an additional 40 percent of Vince’s net income. In the current year, Porter reports $400,000 of net income before consideration of its investment in Vince. Vince Company reports net income of $100,000. What amount of consolidated net income is attributable to the noncontrolling interest?

a. $15,000
b. $45,000
c. $60,000
d. $85,000