OTT purchased 11 shares of Happy New Year & Co. stock on January 3, 20X1, at $20 a share to celebrate the new year and classified its investment as available for sale. In March, the share price dropped to $15, and from April through November the price remained steady between $14.75 and $15.25 per share. On December 31, 20X1, the price was $15. OTT management does not believe the decline in price to be permanent and has asserted that it does not intend to sell this investment in the future.