At year end, Mayce Co. held debt investments with the intent of selling them in the near term. The investments consisted of $300,000, 9%, seven-year bonds, purchased for $278,000. Mayce also held an investment in equity securities purchased for $75,000. At year end, the bonds were selling on the open market for $320,000 and the equity securities had a market value of $90,000. What amount should Mayce report for these investments in its year-end balance sheet?
a) $385,000
b) $390,000
c) $410,000
d) $415,000
