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Panda Corporation owns 90% of Squirrel Inc.'s outstanding common stock. The carrying value of the investment in Sam is $180,000 and the fair value is

Panda Corporation owns 90% of Squirrel Inc.'s outstanding common stock. The carrying value of the investment in Sam is $180,000 and the fair value is $260,000. Panda sells half its Squirrel Inc. shares for $120,000. What is the carrying value of the remaining shares?

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