On November $1,$ year $1,$ Jaxon Co$.$ purchased $200$ shares of Abbot Co$.\text{'}$s common stock at fair

value. This investment represents $25\%$ of the ownership interests in Abbot, and Jaxon has

elected not to use the fair value option. Fair values per share at relevant dates are as follows:

Abbot incurred an $$18,000$ net loss in year $1,$ earned at a constant rate throughout the year,

incurred a $$2,000$ net loss in year $2,$ and declared and paid a dividend on December $31,$ year $2,$

in the amount of $$1\mathrm{.}20$ per share. What is the balance in the investment account as of

December $31,$ year $2?$

A$.$ $$24,760$

B$.$ $$28,510$

C$.$ $$28,750$

D$.$ $$30,000$