Grant, Inc. acquired 30% of South Co.'s voting stock for $200,000 on January 2, Year 1, and did not elect the fair value option. The price equaled the carrying amount and the fair value of the interest purchased in South's net assets. Grant's 30% interest gave Grant the ability to exercise significant influence over South' s operating and financial policies. During Year 1, South earned $80,00o and paid dividends of $50,000. South reported earnings of $100,000 for the 6 months ended June 30, Year 2 and $20o,000 for the year ended December 31, Year 2. On July 1, Year 2, Grant sold half of its stock in South for $150,000. South paid dividend of $60,000 on October 1, Year 2. 11. In Grant' s December 31, Year 1, balance sheet what should be the carrying amount of this investment? a. $200,000 b. $209,000 C. $224,000 . d. $230,000