A parent company exchanges $20,000$ shares of its $$2$ par value common stock, with a fair value of $$10/$share$,$ for all of the shares owned by the subsidiary$$s shareholders. On the acquisition date, the subsidiary reported $$40,000$ of contributed capital $($i$.$e$.,$ common stock$)$ and $$100,000$ of Retained Earnings. An examination of the subsidiary$$s balance sheet revealed that book values were equal to fair values for all assets except for PPE $($net$),$ which has a book value of $$70,000$ and a fair value of $$130,000.$