On January 1, 2022, Nichols Enterprises paid $100,000 for 6,900 shares of Elliott Electronics common stock. The ownership in Elliott Electronics is 10%. Nichols Enterprises does not have significant influence over Elliott Electronics. Elliott reported net income of $59,000 for the year ended December 31, 2022. The fair value of the Elliott stock December 31,2022 was $47 per share. What amount will be reported in the balance sheet of Nichols Enterprises for the investment in Elliott at December 31, 2022?

$249,300.

$279,300.

$264,300.

$324,300.