On july 1, year 1, denver corp. purchased 3,000 shares of eagle co.’s 10,000 outstanding shares of common stock for $20 per share but did not elect the fair value option. on december 15, year 1, eagle paid $40,000 in dividends to its common shareholders. eagle’s net income for the year ended december 31, year 1, was $120,000, earned evenly throughout the year. in its year 1 income statement, what amount of income from this investment should denver report?