On July 1, 2021, Tremen Corporation acquired 25% of the shares of Delany Company. Tremen paid $3,160.000 for the investment, and that amount is exactly equal to 25% of the book value of identifiable net assets on Delany's balance sheet. Delany recognized net income of $1,100,000 for 2021 , and paid $140,000 of dividends each quarter to its shareholders, After all closing entries are made for the year ended December 31, 2021, Tremen's "Investment in Delany Company" account would have a balance of: Multiple Choice $3,555,000. $3,297,500. 53,400,000 $3,227,500