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Omicron Corporation acquired 25% of the outstanding shares of Pi Inc. for $250,000. Pi Inc. reported net income of $600,000. Calculate the equity income from

Omicron Corporation acquired 25% of the outstanding shares of Pi Inc. for $250,000. Pi Inc. reported net income of $600,000. Calculate the equity income from the investment, the carrying value of the investment on the balance sheet, the total dividend income received if Pi Inc. declared dividends of $3 per share, and the market value of the investment if the shares are currently trading at $20 per share.

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