The following information was extracted from Gil Co.'s December 31, 2011, balance sheet:

Noncurrent Assets:

Long-term investments in marketable equity securities (at fair value) $96,450

Stockholders' equity:

Accumulated other comprehensive income** ($25,000)

**Includes a net unrealized holding loss on long-term investments in martekable equity securities of $19,800.

The historical cost of the long-term investments in marketable equity securities was:

A) $63,595

B) $76,650

C) $96,450

D) $116,250