On January 1, 2024, Ackerman sold equipment to Brannigan (a wholly owned subsidiary) for $350,000 in cash. The equipment had originally cost $315,000 but had a book value of only $192,500 when transferred. On that date, the equipment had a five-year remaining life. Depreciation expense is computed using the straight-line method.
Ackerman reported $450,000 in net income in 2024 (not including any investment income) while Brannigan reported $147,500. Ackerman attributed any excess acquisition-date fair value to Brannigan's unpatented technology, which was amortized at a rate of $5,500 per year.
Required:
What is consolidated net income for 2024?