Handley Ltd. acquired 42% of the common shares of Lecce Ltd. on January 1, 2024, by paying $5.68 million for 142,000 shares. Lecce declared a cash dividend of $0.60 per share in each quarter that Handley owned the shares. In its December 31, 2024, balance sheet, Handley should report its investment in Lecce at:
a) $5,680,000
b) $5,068,000
c) $5,680,000 plus 42% of the dividends
d) $5,068,000 plus 42% of the dividends
