Apple Corporation owns 60,000 shares of common stock out of the 100,000 shares outstanding of common stock of Orange Corporation. On 1/1/2012, using the equity method, Apple recorded its investment in Orange on its book at $480,000. The book value of net assets of Orange Corporation on 1/1/2012 was $800,000. If on 1/2/2012 Orange Corporation repurchased 20,000 shares from outsiders at $6 a share, what adjustment would be needed for Apples Investment in Orange account after the repurchase?

		$30,000 increase
		$30,000 decrease
		$72,000 increase
		$72,000 decrease
		No adjustment is needed