On July 1, 2018, Tremen Corporation Acquired 40% of the Shares

On July 1, 2018, Tremen Corporation acquired 40% of the shares of Delany Company. Tremen paid $3,000,000 for the investment, and that amount is exactly equal to 40% of the book value of identifiable net assets on Delany's balance sheet. Delany recognized net income of $1,000,000 for 2018, and paid $150,000 of dividends each quarter to its shareholders. After all closing entries are made, Tremen's "Investment in Delany Company" account would have a balance of:

A) $3,200,000.
B) $3,160,000.
C) $3,000,000.
D) $3,080,000.