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On January 2, Year 1, Barber Company purchased 6,600 shares of Convell Company for $76.820. Convell Company has a total of 33,000 shares of common
On January 2, Year 1, Barber Company purchased 6,600 shares of Convell Company for $76.820. Convell Company has a total of 33,000 shares of common stock outstanding and it is presumed the Barber Company will have a significant influence over Convell. During each of the next two years, Convell declared and paid cash dividends of $0.85 per share, and its net income was $88,000 and $83,000 for Year 1 and Year 2, respectively. What is the book value of Barber's investment in Convell at the end of Year 2? Multiple Choice 0 $10,020 $65,600 $76,820
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