On February 4, 2016, Investor purchased 15% of Investee common stock for $62,000.

Investees net income for the years ended December 31 2016 and 2017 were $18,000 and

$56,000 respectively. Investee declared no dividends during 2016; however, during 2017,

the company declared a $70,000 dividend. On December 31, 2016, the fair value of

investees stock that investor owned had increased to $70,000; in 2017, it increased again

to $75,000. What is the carrying value of the investment on investors December 31, 2016,

balance sheet ?