On July 1, 2021, Tremen Corporation acquired 30% of the shares of Delany Company. Tremen paid $3,090,000 for the investment, and that amount is exactly equal to 30% of the book value of identifiable net assets on Delany's balance sheet. Delany recognized net income of $1,200,000 for 2021, and paid $170,000 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 $368.000 $3.553.500 $3.399,000 $3.270,000