On January 3, 2019, Sheppard Corporation Purchased 15% of Meredith

On January 3, 2019, Sheppard Corporation purchased 15% of Meredith Corporation's common stock for $62,000. Meredith's net income for the years ended December 31, 2019 and 2020 were $18,000 and $56,000 respectively. Meredith declared no dividends during 2019; however, during 2020, the company declared a $70,000 dividend. On December 31, 2019, the fair value of Meredith's stock that Sheppard Corporation owned had increased to $73,000; in 2020, it increased again to $79,000. What will be the carrying value of the investment at the end of December 31, 2020?

A) $62,000
B) $73,000
C) $135,000
D) $79,000