P bought 80% of the shares of S in 2021. Until the 2022 fiscal year, there were no intercompany transactions. During 2022, S sold $4,000 of widgets to P, of which $1,200 of widgets remained in Ps ending inventory. S earned a gross profit of 30% on the widgets. Both companies are taxed at 40%. What is the amount of after-tax inventory profit that must be held back from consolidated net income in 2022?

Multiple Choice

$216

$400

$380

$320