On January $1$ Mustang Company paid $$1,920,000$ for $60,000$ shares of Dillard Co$.\text{'}$s voting common stock which represents a $45\%$ investment. No allocation to goodwill or other specific account was made. Significant influence over Dillard was achieved by this acquisition. Dillard distributed a dividend of $$2\mathrm{.}50$ per share during the year and reported net income of $$670,000.$ What was the balance in the Investment in Dillard Co$.$ account found in the financial records of Mustang as of December $31?$ a$.2,040,500$ b$.2,212,500$ c$.2,260,500$ d$.2,071,500$