XYZ Buys a 24 Per Cent Share in ABC for $80

XYZ buys a 24 per cent share in ABC for $80 million. ABC's total net profit is $50 million and it pays $4 million in dividends to XYZ. Using the equity method, the value of the investment in ABC would be recorded at year-end as:

A) $80 million.
B) $88 million.
C) $92 million.
D) $19 million.