CalifOn January 1, year1, vermont co. purchased an investment for $720000 that represented 40% of Western Corporation outstanding voting stock. For year 1, Western reported net income of $90000 and paid dividends of $35000. At year end, the fair value of vermont's investment in western was $750000. Vermont elected the fair value option for this investment. What should Vermont recognize in net income for year 1 attributable to the investment?