1. Dede Co. paid $2,800,000 to acquire all of the common stock of Elle Corp. on January 1, 2020. Elles reported earnings for 2020 totaled $512,000, and it paid $160,000 in dividends during the year. The amortization of allocations related to the investment was $28,000. Dedes net income, not including the investment, was $3,310,000, and it paid dividends of $950,000. What is the amount of consolidated net income for the year 2020?

A) $3,150,000. B) $3,282,000. C) $3,310,000. D) $3,794,000. E) $3,822,000.