On July 1, 2018, Tremen Corporation acquired 40% of the shares of Delany Company. Tremen paid $3,150,000 for the investment, and that amount is exactly equal to 40% of the book value of identifiable net assets on Delany's balance sheet. Delany recognized net income of $1,100,000 for 2018, and paid $170,000 of dividends each quarter to its shareholders. After all closing entries are made, Tremen's "Investment in Delany Company" account would have a balance of Multiple Choice 0 $3,370,000 O $3,780,000. O $3,234,000. O $3,522,000