Question: On January 2 , 2 0 2 4 , Miller Properties paid $ 1 7 million for 1 million shares of Marlon Company's 6 million

On January 2,2024, Miller Properties paid $17 million for 1 million shares of Marlon Company's 6 million outstanding common shares. Miller's CEO became a member of Marlon's board of directors during the first quarter of 2024.
The carrying amount of Marlon's net assets was $62 million. Miller estimated the fair value of those net assets to be the same except for a patent valued at $24 million above cost. The remaining amortization period for the patent is 10 years.
Marlon reported earnings of $21 million and paid dividends of $6 million during 2024. On December 31,2024, Marlon's common stock was trading on the NYSE at $16.50 per share.
Required:
2. Assume Miller accounts for its investment in Marlon using the equity method. Ignoring income taxes, determine the amounts related to the investment to be reported in its 2024.
Note: Do not round intermediate calculations. Enter all amounts as positive values. Enter your answers in millions rounded to 1 decimal place, (i.e.,5,500,000 should be entered as 5.5).:

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