At 1 July 2021, Amy Ltd purchased all the shares in Pond Ltd by issuing 100,000 shares. At the date of acquisition the share price of Amy Ltd was $12 per share. The cost of issuing shares amounted to $48,000. In addition Amy Ltd incurred due diligence fees of $15,000. What is the amount of the investment recorded by Amy Ltd?

1) 1,215,000

2) 1,263,000

3) 1,200,000

4) 1,248,000