On January 1, 2019, John Paul Jones Corp. purchased 30% of Sky Tech Inc. for $45 million. This acquisition gave John Paul Jones significant influence over Sky Tech. At the date of acquisition, the book value of Sky Tech's net assets was $75 million and their fair value was $90 million. The difference was attributed to the fair value of equipment exceeding book value, and the remaining useful life of this equipment was 5 years. For 2019, Sky Tech reported a net income of $75 million and declared and paid $20 million in dividends.

10. The total amount that John Paul Jones Corp. would report for its investment in Sky Tech Inc. on its December 31, 2019 balance sheet is: A) $67.5 million. B) $61.5 million. C) $60.6 million. D) $66.6 million.