25. On January 1, 2014, Hunt Corporation purchased 25% of the outstanding voting common stock of Shaw Company for $800,000. The book value of the acquired shares was $700,000. The excess of cost over book value is attributable to equipment on Shaw's books that was undervalued and had a remaining useful life of five years. For the year ended December 31, 2014, Shaw reported net income of $200,000 and paid cash dividends of $40,000. What is the carrying value of Hunt's investment in Shaw at December 31, 2014?

A. $790,000

B. $800,000

C. $820,000

D. $830,000

E. $840,000