At the beginning of the year, Goldman Company purchased $12,000$ of the $40,000$ shares of common stock of Buchanah Corporation at $$40$ per share as a long$-$term investment. Goldman can exercise significant influence over Buchanan and properly reports the investment using the equity method. The records of Buchanan Corporation showed the following by the end of the year:

Net income

Dividends paid

Market price per share $$230,000$

$$38$

What amount should Goldman Company report in its year$-$end balance sheet for its investment in Buchanan?

Multiple Choice

$$588,000$

$$657,000$

$$480,000$

$$726,000$