On December 27, Year 5, Lee paid $100,000 for 8,000 shares of Papa Co. common stock. Lee classified the shares as fair value through net income securities. Lee owns 10% of Guys common stock. Guy reported net income of $52,000 for the year ended December 31, Year 5. The fair value of the Guy stock on December 31, Year 5 was $45 per share.

What amount was reported in Lees balance sheet for the investment in Guy at December 31, Year 5?

• A.

  $315,600.

• B.

  $360,000.

• C.

  $300,000.

• D.

  $284,400.