At the beginning of the year, Douglas Company purchased 14,400 of the 240,000 shares of common stock of Herrmann Corporation at $30 per share as a long-term investment. The records of Herrmann Corporation showed the following by the end of the year: Net Income $590,000 Dividends Paid $230,000 Market Price per Share $ 28 What amount should Douglas Company report in its year-end balance sheet for its investment in Herrmann?\