Winner Corporation Acquired 80 Percent of the Common Shares and 70

Winner Corporation acquired 80 percent of the common shares and 70 percent of the preferred shares of First Corporation at underlying book value on January 1,2009.At that date,the fair value of the noncontrolling interest in First's common stock was equal to 20 percent of the book value of its common stock.First's balance sheet at the time of acquisition contained the following balances:
The preferred shares are cumulative and have a 10 percent annual dividend rate and are four years in arrears on January 1,2009.All of the $5 par value preferred shares are callable at $6 per share.During 2009,First reported net income of $100,000 and paid no dividends.

-Based on the information provided,what amount will be reported as the noncontrolling interest in the consolidated balance sheet on January 1,2009?

A) $70,000
B) $130,000
C) $118,000
D) $142,000