Kim Company bought 30% of the shares of Phelps, Inc., at the start of 2018 Kim paid $10 million for the shares. Thirty percent of the book value of Phelps's net assets is $8 million, and the difference of $2 million is due to land that Phelps owns that has appreciated in value. During 2018, Phelps reported net income of $1 million and paid a cash dividend of 50.5 million What amount does Kim carry the Phelps investment on its balance sheet as of December 31, 2018? (Enter your answers in millions rounded to 2 decimal places fie.. 5.500.000 should be entered as 5.50).) Amount of investment reported in Kimbalance sheet milion