Madison Corporation purchases an investment in Lake Geneva, Inc. at a purchase price of $10 million cash, representing 40% of the book value of Lake Geneva, Inc. During the year, Lake Geneva reports net income of $1,700,000 and pays $419,000 of cash dividends. At the end of the year, the market value of Madisons investment is $12 million. What is the year-end balance of the equity investment in Lake Geneva? Select one: a. $10,512,400 b. $11,281,000 c. $10,000,000 d. $10,680,000 e. $12,000,000