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On January 1, Aivah Company purchased 2,000 common shares (25%) of Maywood Corporation as a long-term investment for $230,000. Later in the year, Maywood paid $22,000 in total cash dividends on December 15 and reported net income of $72,000 for the year ended December 31. Determine the amount reported as an equity method investment on Aivah’s December 31 balance sheet.
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