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On January 1, Jarel acquired 80 percent of the outstanding voting stock of Suarez for $260,000 cash consideration. The remaining 20 percent of Suarez had an acquisition-date fair value of $65,000. On January 1, Suarez possessed equipment (five-year remaining life) that was undervalued on its books by $25,000. Suarez also had developed several secret formulas that Jarel assessed at $50,000. These formulas, although not recorded on Suarez's financial records, were estimated to have a 20-year future life.

As of December 31, the financial statements appeared as follows:

		Jarel				Suarez
Revenues	$	(300,000	)		$	(200,000	)
Cost of goods sold		140,000				80,000
Expenses		20,000				10,000
Net income	$	(140,000	)		$	(110,000	)
Retained earnings, 1/1	$	(300,000	)		$	(150,000	)
Net income		(140,000	)			(110,000	)
Dividends declared		0				0
Retained earnings, 12/31	$	(440,000	)		$	(260,000	)
Cash and receivables	$	210,000			$	90,000
Inventory		150,000				110,000
Investment in Suarez		260,000				0
Equipment (net)		440,000				300,000
Total assets	$	1,060,000			$	500,000
Liabilities	$	(420,000	)		$	(140,000	)
Common stock		(200,000	)			(100,000	)
Retained earnings, 12/31		(440,000	)			(260,000	)
Total liabilities and equities	$	(1,060,000	)		$	(500,000	)

Included in the above statements, Jarel sold inventory costing $80,000 to Suarez for $100,000. Of these goods, Suarez still owns 60 percent on December 31.

What is the consolidated total for equipment (net) at December 31?

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