31. On January 2, 2024, Garner, Incorporated bought 10% of the outstanding common stock of Moody, Incorporated for $60 million cash. Garner does not exercise significant influence over Moody. At the date of acquisition of the stock, Moody's net assets had a book value and fair value of $180 million. Moody's net income for the year ended December 31, 2024, was $30 million. During 2024, Moody declared and paid cash dividends of $6 million. On December 31, 2024, the fair value of 100% of Moody's stock was $650 million. On December 31, 2024, Garner's investment should be reported at: A. $65.0 million. B. $60.0 million. C. $68.0 million. D. $62.4 million.