AIDahiya Industries purchased a 30% interest in Alnuzha, Inc. for $600,000. Alnuzha, Inc. has 100,000 $10 par value ordinary shares outstanding. This investment enables AIDahiya to exert significant influence over Alnuzha. During the year, Alnuzha earned net income of $360,000 and paid dividends of $120,000; AIDahiya earned net income of $48,000 and paid dividends of $160,000. At the end of the year, the shares of Alnuzha were trading on an organized exchange for $22 per share. On AlDahiya's year-end statement of financial
position, its investment in Alnuzha, Inc. will be valued at
a. $600,000
b. $660,000
c. $672,000
d. $696,000