On March 31, 2021, Pyramid Company acquired 40% of the shares of Casting Company. Pyramid paid $3,000,000 for the investment, and that amount is exactly equal to 40% of the book value of identifiable net assets on Casting's balance sheet. Casting recognized net income of $1,000,000 and paid $600,000 of dividends for 2021. After all closing entries are made for the year ended December 31, 2021, Pyramids "Investment in Casting Company" account would have a balance of: a. $3,120,000 b. $3,200,000 c. $3,080,000 d. $3,000,000 e. $3,160,000