1 On January 3, 2021, Matteson Corporation acquired 30 percent of the outstanding common stock of O'Toole Company for $1,454,000. This acquisition gave Matteson the ability to exercise significant influence over the investee. The book value of the acquired shares was $848,000. Any excess cost over the underlying book value was assigned to a copyright that was undervalued on its balance sheet. This copyright has a remaining useful life of 10 years. For the year ended December 31, 2021, O'Toole reported net income of $337,000 and declared cash dividends of $30,000. On December 31, 2021, what should Matteson report as its investment in O'Toole under the equity method? 10 points Answer is complete but not entirely correct. Investment 1,501,700