At the beginning of the year, Douglas Company purchased 13,200 of the 220,000 shares of common stock of Herrmann Corporation at $30 per share as a long-term investment. The records of Herrmann Corporation showed the following by the end of the year:

Net Income	$550,000
Dividends Paid	$220,000
Market Price per Share	$ 28

What amount should Douglas Company report in its year-end balance sheet for its investment in Herrmann?

Multiple Choice

$442,200

$369,600

$396,000

$429,000