On January 1 of Year 1, Taraz Company purchased 4,500 shares

On January 1 of Year 1, Taraz Company purchased 4,500 shares of the common stock of Company A for $337,500. At the time, Company A had atotal of 11,250 common shares outstanding. Accordingly, Taraz purchased 40% of the outstanding shares of Company A. During Year 1, Company Apaid cash dividends totaling $35,000. Company A also reported net income of $75,000 during Year 1. On December 31 of Year 1, the market value of Company A’s common stock was $70 per share. On Taraz Company’s books,what amount should be reported as “Investment in Company A” as of December 31 of Year 1?$353,500$315,000$331,000$377,500$367,500$337,500

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