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On January 1,2020, BC company purchased 3000 shares of vancouver company at a cost of 31$ each plus a brokerage fee of $1500. these 3,000 shares represent a 17% interest in vancouver company. during the year, vancouver company reported net income of $150,000 and declared and paid dividends of totalling $80,000 at dec 31,2020 the shares of vancouver company were traded at $36 each.
Problem 1: Assume this percentage of ownership gives BC Company significant influence over the investee and BC company is accounting for this investment using the equity model. At what value should the investment appear on BC's Dec 31,2020.
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