On July 1, 2021, 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 $1,400,000 for 2021, and paid $180,000 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:

A. $3,286,000.

B. $3,430,000.

C. $3,780,000.

D. $3,638,000.