1. On January 1, 2019, High acquires 40,000 shares representing 30% ownership of Low for $600,000 cash. High will use the equity method. At acquisition date, Low had a book value of assets of $700,000 and a book value of liabilities of $200,000. In addition, Low has a Building (remaining useful life of 15 years) with a book value of $500,000 and a fair value of $900,000 at January 1, 2019. All remaining assets and liabilities of Low had book value equal to fair value at date of acquisition. In 2019, Low has net income of $400,000 and paid dividends of $2 per share. What is the balance of Highs Investment in Low at December 31, 2019