Sandhill Company purchased 100 of the 1000 outstanding shares of Whispering Company's common stock for $560000 on January 2, 2021. During 2021, Whispering Company declared dividends of $80000 and reported earnings for the year of $360000. If Sandhill Company used the fair value method of accounting for its investment in Whispering Company, its Equity Investments (Whispering) account on December 31, 2021 should be?

$588000.

$552000.

$596000.

$560000