Assume that, on January 1, 2021, Matsui Co. paid $1,622,400 for its investment in 62,400 shares of Yankee Inc. Further, assume that Yankee has 260,000 total shares of stock issued. The book value and fair value of Yankee's identifiable net assets were both $520,000 at January 1, 2021. The following information pertains to Yankee during 2021:

Net income	$	260,000
Dividends declared and paid	$	78,000
Market price of common stock on 12/31/2021	$	28	/share

What amount would Matsui report in its year-end 2021 balance sheet for its investment in Yankee?