During the year, ABC had sales of $60,000 to XYZ and earned a gross margin of 50% on these sales. At year end, none of these goods had been resold.

Both companies tax rate is 30%.

the total sales reported on Abbas final statement of income and comprehensive income for the year ended July 31, 20X4 was 6,480,000.

What is the investment income in Jay that will be reported on Abbas Income Statement for the year ended July 31, 20X4?

a) $306,400

b) $310,480

c) $318,880

d) $320,000