On January 2, 2020, Weyerhaeuser Co. purchased 15% of Iron Mountain Inc.'s common stock for $52,000.

• During 2020, Iron Mountain Inc. declared and paid a dividend of $60,500.
• Iron Mountain Inc.'s net income for the year ended December 31, 2020 was $15,000.
• On December 31, 2020, the fair value of the Iron Mountain Inc. stock owned by Weyerhaeuser Co. had increased to $67,000.

How much should Weyerhaeuser Co. show in the 2020 income statement (as part of Net Income) as income from this investment?

Multiple Choice

• $9,075.

• $15,000.

• $21,000.

• $24,075.