Question - Robin Corporation purchased 150,000 previously unissued shares of Nest Company's $10 par value common stock directly from Nest for $3,400,000. Nest's stockholder's equity immediately before the investment by Robin consisted of $3,000,000 of capital stock and $2,600,000 in retained earnings. What is the book value of Robin's investment in Nest?
a) $1,500,000.
b) $1,680,000.
c) $2,800,000.
d) $3,000,000.