Assume an investee has the following financial statement information for the three years ending December 31, 2019:

1. Assume that on January 1, 2017, an investor company purchased 100% of the outstanding voting common stock of the investee. On the date of the acquisition, the investee's identifiable net assets had fair values that approximated their historical book values. In addition, the acquisition resulted in no goodwill or bargain purchase gain recognized in the consolidated financial statements of the investor company. Assuming that the investor company uses the cost method to account for its investment inthe investee, what is the balance in the "investment in investee" account in the investor company's pre- consolidation balance sheet on December 31, 2019?