On January 2, 2016, Garner, Inc. bought 10% of the outstanding common stock of Moody, Inc. for $60 million cash, and accounts for the investment using the cost method because fair value is not readily determinable. At the date of acquisition of the stock, Moodys net assets had a book value and fair value of $180 million. Moodys net income for the year ended December 31, 2016, was $30 million. During 2016, Moody declared and paid cash dividends of $6 million. On December 31, 2016, Garners investment should be reported at: $60.0 million. $66.9 million. $69.0 million. $71.1 million.