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On January 4, Year 1, Barber Company purchased 5,400 shares of Convell Company...

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On January 4, Year 1, Barber Company purchased 5,400 shares of Convell Company for $63,500 plus a broker's fee of $1,080. Convell Company has a total of 27,000 shares of common stock outstanding and it is presumed the Barber Company will have a significant influence over Convell. During each of the next two years, Convell declared and paid cash dividends of $0.85 per share, and its net income was $76,000 and $71,000 for Year 1 and Year 2, respectively. What is the book value of Barber's investment in Convell at the end of Year 2? Multiple Choice 0 $92,980. 0 $55,400. 0 $64,580. O $84,800. 0 $93,980

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