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Jack Corporation purchased a 20% interest in Jill Corporation for $1,620,000 on January 1, 2024. Jack can significantly influence Jill. On December 10, 2024, Jill
Jack Corporation purchased a 20% interest in Jill Corporation for $1,620,000 on January 1, 2024. Jack can significantly influence Jill. On December 10, 2024, Jill declared and paid $1.6 million in dividends. Jill reported a net loss of $6.2 million for the year. What amount of loss should Jack report in its income statement for 2024 relative to its investment in Jill?
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$1,600,000
$1,620,000
$1,460,000
$1,240,000
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