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Lion Corporation purchased 15% of the common stock of Tiger Company on March 1, 20X1 which gave them no influence over Tiger. This is Tiger's

Lion Corporation purchased 15% of the common stock of Tiger Company on March 1, 20X1 which gave them no influence over Tiger. This is Tiger's first year in business and Tiger has a December 31 fiscal year-end. Lion made the following journal entries during 20X1 to account for its investment in Tiger.

Investment in Tiger Co. 117,300 Cash 117,300 Cash 21,000 Dividend Income 15,000 Investment in Tiger Co. 6,000

Unrealized Gain/Loss 5,284 Investment in Tiger Co. 5,284

Using this information, answer the following question:

What was the fair value of Lions investment at 12/31/X1?

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