At the end of the current year, how much should Austin Inc. report as its investment in P Co. on its balance sheet, considering they purchased 76,000 shares (representing 10% of P Co.'s outstanding common stock) for $450,000, P Co. paid dividends of $0.79 per share, and reported a net income of $760,000? Also, the market price of P Co.'s common stock is $7 per share as of December 31.