Nichols enterprises has an investment in 30,500 bonds of elliott electronics that nichols accounts for as a security available-for-sale. elliott bonds are publicly traded, and the wall street journal quotes a price for those bonds of $14 per bond, but nichols believes the market has not appreciated the full value of the elliott bonds and that a more accurate price is $18 per bond. nichols should carry the elliott investment on its balance sheet at: a. $442,000, the midpoint of nichols' range of reasonably likely valuations of elliott. b. $468,000c. $416,000d. either $416,000 or $468,000 as either are defensible valuations.