Excellence Auto Inc. $($EAI$)$ has $150,000$ shares issued in total. Assume that on January $1,2021,$ Power One Corporation acquired $15\%$

of EAl's shares for $$45$ per share. Power One is assumed not to have significant influence over EAl and will use the cost method to

account for its investments. For the year ended December $31,2021,$ EAl reported profit of $$800,000$ and declared and paid $$80,000$

cash dividends. At December $31,2021,$ EAl's common shares were traded at $$50$ each. How much is Power One required to record in

its dividend revenue account in EAI?

$$132,000$

$$120,000$

$$12,000$

$$80,000$