Gilman Company Purchased 100,000 of the 250,000 Shares of Common

Gilman Company purchased 100,000 of the 250,000 shares of common stock of Burke Corporation on January 1, 20X0, at $40 per share as a long-term investment. The records of Burke Corporation showed the following on December 31, 20X0: $$\begin{array} { | l | r | } \hline \text { Net income } & \$ 575,000 \\\hline \text { Dividends declared and paid during December 20X0 } & \$ 30,000 \\\hline \text { Market price per share } & \$ 42.00 \\\hline\end{array}$$
-At what amount should Gilman Company report the Burke investment on the December 31, 20X0 statement of financial position?

A) $4,218,000
B) $4,000,000
C) $4,124,000
D) $3,800,000