Question: following previously unreported intangible assets: - Developed technology, fair value $1,000,000,5-year life - Favorable leases, fair value $500,000,4-year life investment in Speedy on its own

following previously unreported intangible assets: - Developed technology, fair value $1,000,000,5-year life - Favorable leases, fair value $500,000,4-year life investment in Speedy on its own books. Speedy's December 31,2023, trial balance appears below. What is 2023 equity in net income of Speedy, reported on Pronto's books? Select one: a. $480,000 b. $220,000 c. $275,000 d. $60,000

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