On January 1, 2021, Tremen Corporation acquired 40% of the shares of Delany Company. Tremen paid $3,000,000 for the investment. For 2021, Delany recognized net income of $500,000 and paid $300,000 of dividends. At December 31, 2021, Tremen's investment in Delany Company would be reported for:

On January 1, 2021, Tremen Corporation acquired 40% of the shares of Delany Company. Tremen paid $3,000,000 for the investment. For 2021, Delany recognized net income of $500,000 and paid $300,000 of dividends. At December 31, 2021, Tremen's investment in Delany Company would be reported for: Multiple Choice $3,200,000. $3,120,000 $3,000,000 $3,080,000