On January 1, Saban Co., a calendar-year entity, acquired 40% of the Paterno Co.s stock. The fair value and carrying amount of Paternos net assets were equal on January 1. Perles accounts for this investment using the equity method. The balance in the investment at year end was $340,000. Paternos reported net income for the year was $210,000, and it declared and paid dividends of $70,000. What was the amount paid by Saban for its investment in Paterno?