Cullumber Corporation purchased 37000 shares of common stock of the Sherman Corporation for $52 per share on January 2, 2020. Sherman Corporation had 100000 shares of common stock outstanding during 2021, paid cash dividends of $162000 during 2021, and reported net income of $620000 for 2021. Cullumber Corporation should report revenue from investment for 2021 in the amount of

$59940.

$252340.

$169460.

$229400.