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An investor company purchased 37,000 of the 100,000 outstanding shares of the investee company's common stock for $372,000 on January 1, 2021. During 2021, the
An investor company purchased 37,000 of the 100,000 outstanding shares of the investee company's common stock for $372,000 on January 1, 2021. During 2021, the investee company declared dividends of $24,000 and reported earnings for the year of $160,000. If the investor company uses the equity method of accounting for its investment in the investee company, its Equity Investment in the investee company account at December 31, 2021 should be $____________. (Do not round your answer for any part of the computation.)
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