15.On January 2, 2020, Howdy Doody bought 15% of Ranger's common stock for $ 54,000. Ranger's net income as of December 31, 2020 was $ 80,000. During 2020, Ranger declared and paid dividends of $...

15.On January 2, 2020, Howdy Doody bought 15% of Ranger's common stock for $ 54,000. Ranger's net income as of December 31, 2020 was $ 80,000. During 2020, Ranger declared and paid dividends of $ 64,000. As of December 31, 2018, the market value of Howdy Doody-owned Ranger shares had risen to $ 69,000. How much is Howdy's total effect on net income caused by investing in Ranger for 2020?

Select one:

a. $ 15,000.

b. $ 21,000.

c. $ 24,600.

d. $ 9,600.