On July 1,2010,Surf Company Purchased Long-Term Investments in Available-For-Sale Securities

On July 1,2010,Surf Company purchased long-term investments in available-for-sale securities as follows:
Blue Corporation common stock (par $5) 2,000 shares at $16 per share.
Black Company preferred stock (par $20) 1,500 shares at $30 per share.
The quoted market prices per share on December 31,2010 were as follows:
Blue Corporation stock,$15 per share
Black Company stock,$30 per share
Each of the long-term investments represents 10% of the total shares outstanding.The combined carrying value of the long-term investments reported in the balance sheet at December 31,2010 would be which of the following?

A) $77,000
B) $73,500
C) $71,500
D) $75,000