On January 2, 2016, Portela Inc bought 30% of the outstanding common stock of Bracero corporation for $258,000 cash. Portela accounts for tthis investment by the equity method. At the date of the acquisition of the stock, Bracero's property, plants, and equipment has a remaining life of 10 years. Bracero net income for eh year ended December 31, 2016, was $180,000. during 2016, Bracero declared and paid cash dividends of $20,000. On December 31, 2016, Portela should have carried its invesment in bracero in the amount of:

a.$258,000

b.$301,500

c.$306,000

d.$312,000