On January 1, Buyer Company acquired common stock of \(\mathrm{X}\) Company. At the time of acquisition, the book value and fair market value of X Company's net assets were \(\$ 100,000\) During the year, X Company earned \(\$ 25.000\) and declared dividends of \(\$ 20,000\). How much income would Buyer Company report for the year from its investment under the assumption that Buyer Company:

a Paid \(\$ 15,000\) for 15 percent of the common stock and uses the lower-of-cost-or-market method for its investment in X Company?

b Paid \(\$ 20,000\) for 15 percent of the common stock and uses the lower-of-cost-or-market method for its investment in X Company?

c Paid \(\$ 30,000\) for 30 percent of the common stock and uses the equity method to account for its investment in X Company?

d Paid \(\$ 40,000\) for 30 percent of the common stock and uses the equity method to account for its investment in X Company? Give the maximum income that Buyer Company can report from the investment.