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On January 1 , Year 2 , Justo purchases 3 0 , 0 0 0 shares of the 1 0 0 , 0 0 0

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On January 1, Year 2, Justo purchases 30,000 shares of the 100,000 outstanding shares of stock in Bonita Corp. for $5 per share. During the year, Bonita Corporation has $20,000 of net income and pays $4,000 in dividends. On December 31, Year 2, the value of a share of Bonita Corporation stock is $6 per share. Assuming Justo uses the equity method of accounting for Bonita stock, what is the amount shown for Investment in Bonita on the December 31, Year 2, balance sheet?
$154,800
$156,000
$180,000
$150,000
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