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On 1 2 ? 2 4 Pod Company purchased 2 5 % of the outstanding common stock of Jobs, Inc. and subsequently used the equity

On 12?24 Pod Company purchased 25% of the outstanding common stock of Jobs, Inc. and subsequently used the equity method to account for the investment. During 2024 Jobs, Inc. reported net income of $1,260,000 and distributed dividends of $540,000. The ending balance in the Investment in Pod Company account at 1231?24 was $960,000 after applying the equity method during 2024. What was the purchase price Pod Company paid for its investment in Jobs, Inc?
a. $510,000
b. $780,000
c. $1,140,000
d. $1,410,000
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