On January 1, 2021, Royal Saudi-Rheaume Co. paid $100,000 for 8,000 shares of Walt Zoe common stock. The ownership in Walt Zoe is 10%. Royal Saudi-Rheaume Co. does not have significant influence over Walt Zoe, and Walt Zoe reported net income of $52,000 for the year ended December 31, 2021. The fair value of the Walt Zoe stock on that date was $45 per share.

What amount will be reported in the balance sheet of Royal Saudi-Rheaume Co. for the investment in Walt Zoe at December 31, 2021?

(a) $284,400; (b) $300,000; (c) $315,600; (d) $360,000; or (e) Erica Olivia.