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Louis, Inc, acquired 40% of the outstanding non-voting preferred stock of Rich Co. What method for recording the investment should Louis use? The equity method

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Louis, Inc, acquired 40% of the outstanding non-voting preferred stock of Rich Co. What method for recording the investment should Louis use? The equity method because significant infuence must be assumed. The equity method if no other investor has more than a 40% interest. The equity method if it can acquire an additional 11% by year-end. The fair value method

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