Sharp Inc. acquires all of the stock of TranKing Industries for $64,000,000 in cash. The books of TranKing report the following account balances at the date of acquisition (in trial balance format). Date-of-acquisition fair values are also displayed.

	Book Value Dr (Cr)	Fair Value Dr (Cr)
Current assets	$8,000,000	$9,600,000
Property, net	18,400,000	12,000,000
Liabilities	(16,160,000)	(16,000,000)
Common stock	(80,000)
Additional paid-in capital	(3,920,000)
Retained earnings	(6,400,000)
Accumulated other comprehensive loss	160,000
Total	$0

TranKing has previously unreported intangible assets valued at $12,000,000 which meet the capitalization requirements of ASC Topic 805.

On the consolidation working paper, eliminating entry (E) credits Investment in TranKing in the amount of

Select one:

a. $10,160,000

b. $10,240,000

c. $10,400,000

d. $10,560,000