On January 1, 2009, Halley Company acquired 8 percent of the outstanding common stock of Ghosh Corporation for $650,000. Halley appropriately uses the cost method to account for its investment in Ghosh. Ghosh reported net income and paid dividends for the years ended 2009, 2010, and 2011, as follows:

Year	Net Income	Dividends
2009	$100,000	$70,000
2010	$70,000	$70,000
2011	$30,000	$70,000

Based on the above information the amount of income related to its investment in Ghosh to be reported by Halley for the year 2010 is:

	a	$5,600
	b.	$10,500
	c.	$70,000
	d.	$8,000
	e.	None of the above