Pastel Corporation acquired a controlling interest in Somber Corporation in 20X5 for an amount equal to its underlying book value. At the date of acquisition, the fair value of the noncontrolling interest was equal to its proportionate share of the book value of Somber Corporation. In preparing a consolidated balance sheet worksheet at January 1, 20X9, Pastel’s controller included the following consolidation entry: Worksheet Entry Debit Credit Equipment 53,500 Investment in Somber Corp. 9,450 NCI in NA of Somber Corp. 1,050 Accumulated Depreciation 64,000 A note at the bottom of the consolidation worksheet at January 1, 20X9, indicates the equipment was purchased from a nonaffiliate on January 1, 20X1, for $120,000 and was sold to an affiliate on December 31, 20X8. The equipment is being depreciated on a 15-year straight-line basis. Somber reported stock outstanding of $300,000 and retained earnings of $200,000 at January 1, 20X9. Somber reported net income of $25,000 and paid dividends of $6,000 for 20X9.

Required:

a. What percentage ownership of Somber Corporation does Pastel hold?