$4.$ Pacer Company purchased $300$ of the $1,000$ outstanding shares of Queen Company$$s common stock for $$80,000$ on January $2,2008.$ During $2009,$ Queen Company declared dividends of $$8,000$ and reported earnings for the year of $$20,000.$

If Pacer Company uses the equity method of accounting for its investment in Queen Company, its Investment in Queen Company account at December $31,2009$ should be

a$.$ $$100,000$

b$.$ $$88,000$

c$.$ $$83,600$

d$.$ $$80,000$