3. On January 1, 2007, Firewire Company acquired 20 percent of Browser Company's common stock at underlying book value for $250,000. During 2007 and 2008. Browser reported net income of $90,000 and $50,000 and paid dividends of $80,000 and $70,000, respectively. What is the balance of its investment account on December 31, 2007 if Firewire uses the cost method in accounting for this investment