On January $1,2023,$ Mona, Incorporated, acquired $80$ percent of Lisa Company$$s common stock as well as $60$ percent of its preferred shares. Mona paid $$86,000$ in cash for the preferred stock, with a call value of $110$ percent of the $$50$ per share par value. The remaining $40$ percent of the preferred shares traded at a $$55,000$ fair value. Mona paid $$592,000$ for the common stock. At the acquisition date, the noncontrolling interest in the common stock had a fair value of $$148,000.$ The excess fair value over Lisa$$s book value was attributed to franchise contracts of $$75,000.$ This intangible asset is being amortized over a $30-$year period. Lisa pays all preferred stock dividends $($a total of $$29,000$ per year$)$ on an annual basis. During $2023,$ Lisa$$s book value increased by $$78,000.$

On January $2,2023,$ Mona acquired one$-$half of Lisa's outstanding bonds payable to reduce the business combination's debt position. Lisa's bonds had a face value of $$100,000$ and paid cash interest of $12$ percent per year. These bonds had been issued to the public to yield $15$ percent. Interest is paid each December $31.$ On January $2,2023,$ these bonds had a total $$91,440$ carrying amount. Mona paid $$53,170,$ indicating an effective interest rate of $10$ percent.