MAx company reports net income of $$140,000$ each year and declares an annual a cash Max Company reports net income of $$140,000$ each year and declares an annual cash dividend of

$$50,000.$ The company holds net assets of $$1,200,000$ on January $1,2023.$ On that date, Eden Com$-$

pany purchases $40$ percent of Max's outstanding common stock for $$600,000,$ which gives it the

ability to significantly influence Max. At the purchase date, the excess of Eden's cost over its pro$-$

portionate share of Max's book value was assigned to an indefinite$-$lived asset. On December $31,$

$2025,$ what is the Investment in Max Company balance $($equity method$)$ in Eden's financial records?

a$.$ $$600,000$

b$.$ $$660,000$

c$.$ $$690,000$

d$.$ $$708,000$