On January 1, Year 1, Mike Corp. purchased 3,000 shares of Abik Co.'s 10,000 outstanding shares of common stock for $15 per share but did not elect the fair value option. On December 20, Year 1, Abik declared and paid $50,000 in dividends to its common shareholders. Abik's net income for the year ended December 31, Year 1, was $180,000.At December 31, Year 1, Abik is trading at $20 per share. At what amount should Mike report the investment in equity securities of Abik in its December 31, Year 1, balance sheet?

a.$60,000

b.$114,000

c.$84,000

d.$99,000