On December $31,20$X$8,$ Peak Corporation acquired $80$ percent of Summit Company's common stock for $$160,000.$ At that date, the fair value of the noncontrolling interest was $$40,000.$ Of the $$75,000$ differential, $$10,000$ related to the increased value of Summit's inventory, $$20,000$ related to the increased value of its land, and $$25,000$ related to the increased value of its equipment that had a remaining life of $10$ years from the date of combination. Summit sold all inventory it held at the end of $20$X$8$ during $20$X$9.$ The land to which the differential related was also sold during $20$X$9$ for a large gain. At the date of combination, Summit reported retained earnings of $$75,000$ and common stock outstanding of $$50,000.$ In $20$X$9,$ Summit reported net income of $$60,000,$ but paid no dividends. Peak accounts for its investment in Summit using the equity method.Based on the preceding information, the amount of goodwill reported in the consolidated financial statements prepared immediately after the combination is:Multiple Choice$$26,000$ $$20,000$ $$32,500$ $$0$