On 1 January 2019, Sky-High Ltd Acquired 100 000 Shares

On 1 January 2019, Sky-High Ltd acquired 100 000 shares (30 per cent of the voting interest) in Down Ltd for $600 000 cash. On 30 June 2019, Down Ltd announced its earnings per share for the first six months of 2019 at $1.50 per share. On 20 November, Down Ltd paid dividends to shareholders at $0.90 per share. On 31 December 2019, Down Ltd announced its earnings per share for 2019 at $2.80 per share (i.e. $1.30 additional since 30 June) . If Sky-High Ltd used the cost basis, what dividend revenue did it record for the year ended 31 December 2019 in respect of its investment in Down Ltd?

A) Nil
B) $90 000
C) $190 000
D) $280 000