Rye Company purchased 10% of Lena Company's common stock during 2019 for $167,000. The Investment in Lena had a $194,000 fair value at the end of 2019 and a $157,000 fair value at the end of 2020. Lena Company reported net income of $68,500 in 2019 and $80,500 in 2020 and declared and paid dividends of $47,000 each year. On Rye Companys balance sheet at December 31, 2020, what amount was reported for the investment in Lena Company?

Multiple Choice

• $172,500.

• $157,800.

• $167,800.

• $190,900.