6. On January 1, 2020, Max Co., paid $1,000,000 for a 30 percent interest in Min Co.'s common stock. This investee had assets with a book value of $5,000,000 and liabilities of $2,400,000. A patent held by Min Co. having a $30,000 book value was actually worth $100,000. This patent had a ten-year remaining life. Min Co. also owns a building with a useful life of twenty years which is undervalued by $80,000. Any further excess cost associated with this acquisition was attributed to Equipment with a remaining useful life of 5 years. During 2020, Min Co. had net income of $40,000 and declared and paid dividends of $10,000. Assuming Max Co. uses the equity method, what balance should appear in the Investment in Min Co. account as of December 31, 2020? (15 pts.)