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QUESTION 3 Fraw Company owns 15% of the common stock of Trace Corporation and used the cost method to account for this investment. Trace reported

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QUESTION 3 Fraw Company owns 15% of the common stock of Trace Corporation and used the cost method to account for this investment. Trace reported net income of $110,000 for 2018 and paid dividends of $60,000 on October 1, 2018. How much income should Fraw recognize on this investment in 2018? $16.500 $9,000 $50,000 $25,500

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