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On January 1, 2016, Cunningham Co, purchased 25% of Durham Corp.'s common stock at book value of net assets. The balance in Cunningham's Equity Investment

On January 1, 2016, Cunningham Co, purchased 25% of Durham Corp.'s common stock at book value of net assets. The balance in Cunningham's Equity Investment account was $720,000 at December 31, 2016. Durham reported net income of $450,000 for the year ended December 31 2016, and paid dividends totaling $180,000 during 2016. How much did Cunningham pay for its 25% interest in Durham

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