Noncontrolling investment accounting (price different from book value) On January 1, 2022, an investor purchases for $640,000 a 15% ownership in an investee. The investee's common stock has a readily determinable fair value. On January 1, 2022, the book value of the investee's assets and liabilities equals $1,440,000 and $400,000 respectively. On that date, the appraised fair values of the investee's identifiable net assets approximated the recorded book values except for a patent. On January 1, 2022, the patent had a recorded book value of $0 an estimated fair value equal to $128,000 and a 10 year remaining useful life. During the year ended December 31, 2022, the investee company reported net income equal to $96,000 and dividends equal to $64,000. On December 31, 2022, the fair value of the investor's share of the investee is $720,000 Assume the investor cannot exert significant influence over the investee. Determine the balance in the "Investment in Investee account at December 31, 2022 Select one: a. $640,000 b. $752,000 c. $720,000 d. $642.880