On January 2, 2021 Pod Company purchased 20% of the outstanding common stock of Jobs, Inc. and subsequently used the equity method to account for the investment. During 2021, Jobs reported net income of $840,000 and distributed dividends of $360,000. The ending balance in the Investment in Jobs Company account at December 31, 2021 was $640,000 after applying the equity method.What was the purchase price Pod Company paid for its investment in Jobs, Inc.?

Select one:

a.$472,000

b.$736,000

c.$544,000

d.$940,000

e.$160,120