On July 1, Year 1, midway into the year, Investor Corp. purchased 30% of the stock of Investee Co. and uses the equity method of accounting, for year 1 Investee paid a total of $80,000 in dividends to all of its shareholders. Investee Co. reported total net income for Year 1 of $240,000, earned evenly throughout the entire year. In its Year 1 income statement, what amount of income from this investment should Investor Corp. report?