Mt Evans corporation wants to expand by investing in equity shares of some other companies. These other companies are all competitors of Mt Evans.

On January $1,2022$ Mt Evans purchased $15\%$ of the outstanding shares of Grays Peak corporation for an amount of $€200,000$ in cash. During $2022$ Grays Peak earned an income of $€800,000,$ and it paid a dividend of $€200,000.$ At the end of $2022$ the fair value of the $15\%$ shares has increased to an amount of $€300,000$$\mathrm{}$.

If Mt Evans does not have significant influence over Grays Peak, what accounting methods are applicable for Mt Evans to account for its investment in Grays Peak according to US$-$GAAP rules?