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Tyler Company purchases 400 shares of West Company for $7 each on September 1, 20X6. This qualifies as an available-for-sale security. On December 31, 20X6,

Tyler Company purchases 400 shares of West Company for $7 each on September 1, 20X6. This qualifies as an available-for-sale security. On December 31, 20X6, West is selling for $5 per share. At what amount will the investment in West be reported on Tyler's 12/31/X6 balance sheet?

Select one:

a. $400

b. $2,800

c. $2,000

d. $800

e. $500

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