Pental Corporation bought 90% of Sedacor Company's common stock at its book value of $400,000 on January 1,2011.During 2011,Sedacor reported net income of $130,000 and paid dividends of $40,000.At what amount should Pental's Investment in Sedacor account be reported on December 31,2011?
A) $400,000
B) $481,000
C) $490,000
D) $530,000
Correct Answer:
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