On January 2, 2020, Howdy Doody Corporation purchased 12% of Ranger Corporation's common stock for $55,000. Ranger's net income for the years December 31, 2020, and December 31, 2021, were $11,000 and $57,000, respectively. During 2020. Ranger declared and paid a dividend of SE1000. On December 31, 2020. the fair value of the Ranger stock owned by Howdy Doody had increased to $65.000. How much should Howdy Doody Show in the 2025 income statement as income from this investment? Multiple Choice $16.000 $10,000 $8,040. $18,040