On January 1 2016, Cypress Industries purchased 25% of the ordinary shares of Shane, Inc. 27 The investment enables Cypress to exert significant influence over Shane, Inc. During the year, Shane earned net income of 160,000 and paid dividends of 40,000 and Cypress Industries eamed net income of 280,000. At December 31, 2016, shares of Shane, Inc. were trading for 40 per share, and the value in the investment account on the books of Cypress was 395,000. * ? What amount did Cypress Industries pay for its investment in Shane on January 1, 2016 (1 ) 365,000 335,000 425,000 325,000