On July 1, 2021, Tremen Corporation acquired 40% of the shares of Delany Company, Tremen paid $3,090,000 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 $1.200,000 for 2021, and paid $200,000 of dividends each quarter to its shareholders. After all closing entries are made for the year ended December 31, 2021, Tremen's Investment in Delony Company account would have a balance of Multiple Choice $3,400,000 $3,170,000 $8.700.000 $3330,000