Alex, Inc., buys 40 percent of Steinbart Company on January 1, 2020, for $772,000. The equity method of accounting is to be used. Steinbart's net assets on that date were $1.70 million. Any excess of cost over book value is attributable to a trade name with a 20-year remaining life. Steinbart Immediately begins supplying inventory to Alex as follows: Year 2020 2021 Cost to Steinbart $204,480 139,860 Transfer Price $284,000 222,000 Amount Held by Alex at Year-End (at transfer price) $71,000 69,000 Inventory held at the end of one year by Alex is sold at the beginning of the next Steinbart reports net income of $92,000 in 2020 and $129,500 in 2021 and declares $30.000 in dividends each year. What is the equity Income in Steinbart to be reported by Alex In 2021? Multiple Choice $44.940. $56.140. $40,560, $54,240