On November 1, 2021, Kericho, Inc. purchased 84,000 of Kapenguria Co.'s common stock for $9.90 a share. The finance team elected to record the investment using the fair value method. At the end of 2021, Kapenguria Co.'s stock price was $9.70 a share. If the stock price at the end of 2022 is $9.31 per share, what will Kericho, Inc. record as the ending balance in the fair value adjustment account for 2022?

a) $49,560 credit

b) There will be no balance in the Fair Value Adjustment account.

c) $32,760 credit

d) $16,800 credit