On January 1,2020 , Sylvestor, Inc., paid $400,000 for a 20% interest in Happiness Corporation. This investee had assets with a book value of $1,500,000 and liabilities of $700,000. A patent held by Happiness was undervalued by $150,000. The patent had a tenyear remaining life. Any goodwill associated with this acquisition is considered to have an indefinite life. During 2020 , Happiness reported income of $200,000 and paid dividends of $80,000 while in 2021 it reported income of $230,000 and dividends of $100,000. What is the balance in Equity Investment at December 31, 2021? a. $420,000 b. $444,000 c. $450,000 d. $459,000