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On January 1, 2007. Firewire Company acquired 20 percent of Browser Company's common stock at underlying book value for $250,000. During 2007 and 2008. Browser

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On January 1, 2007. Firewire Company acquired 20 percent of Browser Company's common stock at underlying book value for $250,000. During 2007 and 2008. Browser reported net income of $90.000 and $50,000 and paid dividends of $80,000 and $70,000, respectively. What is the balance of its Investment account on December 31, 2007 if Firewire uses the cost method in accounting for this investment O a. $260.000 O b. $ 258,000 O c. $ 268,000 d. $ 250.000

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