On January 2,201, Turquoise Corporation bought 16% of Julius' capital stock for $40,000. Turquoise does not exhibit significant influence over Julius. Julius' net incomes for the years ended December 31, 20X1, and December 31, 20X2 were $20,000 and $60,000, respectively. Julius did not declare any dividends in 20X1 but declared and paid a dividend of $95,000 in 20X2. How much should Turquoise show on its 202 income statement as income from this investment? \begin{tabular}{c} $5,600 \\ \hline$9,600 \\ \hline$12,800 \\ \hline$15,200 \end{tabular} None of the above