Photo Finish Corporation Bought a 40% Interest in the Voting

Photo Finish Corporation bought a 40% interest in the voting stock of Click It Corporation's $1 par value common stock for $20 million (2 million shares at a $10 market price) on March 31, 2014. On December 31, 2014, Click It paid a $1 million cash dividend declared earlier in 2014 and reported net earnings for the year ended 2014 of $10 million. On December 31, 2014, Click Its stock was trading at $11.50 per share. At what amount will the Click It investment be reported on Photo Finish's December 31, 2014 statement of financial position?

A) $23,600,000
B) $20,000,000
C) $23,000,000
D) $24,000,000