Use the following facts for Multiple Choice problems $19$ and $20($each question is independent of the other$)$: On January $1,2022,$ an investor purchases $20,000$ common shares of an investee at $$12($cash$)$ per share. The shares represent $25\%$ ownership in the investee. determinable fair value. On January $1,2022,$ the book value of the investee's assets and liabilities equals $$850,000$ and $$300,000,$ respectively. On that date, the appraised fair values of the investee's identifiable net assets approximated the recorded book values, except for a customer list. On January $1,2022,$ the customer list had a recorded book value of $$0,$ an estimated fair value equal to $$50,000$ and a $5$ year remaining useful life. During the year ended December $31,2022,$ the investee company reported net income equal to $$80,000$ and dividends equal to $$24,000.19.$ Noncontrolling investment accounting $($price different from book value$)$ Assume the investor cannot exert significant influence over the investee. Determine the balance in the "Investment in Investee" account at December $31,2022.$ a$.$ $$320,000$ c$.$ $$251,500$ b$.$ $$296,000$ d$.$ $$240,00020.$ Noncontrolling investment accounting $($price different from book value$)$ Assume the investor can exert significant influence over the investee. Determine the balance in the "Investment in Investee" account at December $31,2022.$ a$.$ $$320,000$ b$.$ $$296,000$ c$.$ $$251,500$ d$.$ $$240,000$