On January 1st. 2019, X purchased 25% of the voting shares of Y Inc. for $100,000. The investment is reported using the equity method, as X has significant influence over Y. Y's net income and declared dividends for the following three years are as follows:- NET INCOME DIVIDENDS 2019 $50,000 $20,000 2020 $70,000 $80,000 2021 $30,000 $60,000 What would be the carrying value of X's Investment in Y at the end of 2021 if X used the equity method of reporting the investment? a. $100,000 b. $97,500 c. $98,800 d. $91,200