On July 1,2021, Tremen Corporation acquired 25% of the shares of Delany Company. Tremen paid $3,040,000 tor the investment, and that amount is exactly equal to 25% of the book value of identifable net assets on Delany's balance sheet. Delany recognized net income of $1,200,000 for 2021 , and paid $150,000 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 Compony" occount would have a balance of: Multiple Choice $3,990,000 $3,420000 $3,302,500 $3,115.000