On January $1,2021,$ London Co$.$ paid $$1,200,000$ for its investment in $60,000$ shares of Jakarta Inc.Jakarta has $200,000$ total shares of stock. The following information pertains to Jakarta during $2021$:Net Income was $$200,000,$ total dividends declared and paid was $$60,000,$ market price of common stock on $12/31/2021$ was $$22/$share$.$ What amount would London report in its year$-$end $2021$ balance sheet for its investment in Jakarta?a$)$c$)$$ $1,320,000.$$ $1,242,000.$b$)$ $ $1,260,000$d$)$ $ $1,340,000.$