On 1/1/17, Snead Company purchased 25% of Rule Corporations common stock. Snead appropriately carries this investment at equity (i.e., uses the equity method of accounting for the investment), and the balance in Sneads investment account is $190,000 at 12/31/17. Rule reported net income of $120,000 for the year ended 12/31/17, and paid common stock dividends totaling $48,000 during 2017. What was the amount of Sneads initial investment in Rule on 1/1/17?

a. $172,000

b. $208,000

c. $232,000

d. $168,000

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