On January 1, 2018, Nana Company paid $100,000 for 8,400 shares of Papa Company common stock. The ownership in Papa Company is 10%. Nana Company does not have significant influence over Papa Company. Papa reported net income of $63,000 for the year ended December 31, 2018. The fair value of the Papa stock on that date was $59 per share. What amount will be reported in the balance sheet of Nana Company for the investment in Papa at December 31, 2018?

Multiple Choice

• $435,600.
• $495,600.
• $420,600.
• $450,600.