(Answered) Sadflattes corporations stockholders equity at december 31

Accounting

Sadflatte's Corporation's stockholder's equity at December 31, 2016 included the following:

8% Preferred stock, $10 par value $2,000,000

Common Stock, no par $20,000,000

Additional paid-in capital $8,000,000

Retained Earnings $8,000,000

Prologa Corporation purchased a 30% interest in Sadflatte's common stock from other shareholders on January 1, 2017 for $11,600,000. What was the book value of Prologa's investment in Sadflatte?

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