Jubilee, incl, owns 30 percent of JPW Company and applies the equity method; During the current year. Jubilee buys inventory costing $64,000 and then sells it to JPW for $80,000 At the end ofthe year: JPW still holds only $28,500 of merchandise. What amount of gross profit must Jubilee defer in reporting this investment using the equity method? Multiple Choice $1,710. $5.510 $10,410 .000 $9,510