Yult Company owns 25% of the common stock of Dent Co. and uses the equity method to account for the investment. During 2002, Dent reported income of $220,000 and paid dividends of $80,000. There is no amortization associated with the investment. During 2002, how much income should Yult recognize related to this investment?
A) $20,000
B) $75,000
C) $55,000
D) $35,000
E) $46,000
