_____ on 4/1/06, Pullco Acquired 100% of Strapco's Outstanding Common

_____ On 4/1/06, Pullco acquired 100% of Strapco's outstanding common stock for $500,000 cash. For 2006, Strapco reported the following items:
In addition, amortization of cost in excess of book value for 2006 was $20,000. Assume non-push-down accounting is used. Under the equity method, what is the carrying value of the Investment account at 12/31/06?

A) $500,000
B) $540,000
C) $550,000
D) $570,000
E) $630,000