Chen Corporation bought 50,000 shares (5% ownership) of Dae Inc. on January 2, 2020 at $34 per share. Chen Corporation received a stock dividend of 15% on March 31, 2020 when the market price of the share is $40. On November 30, Chen Corporation paid $20 per share special assessment on the shares. On December 15, 2020, Dae Inc. paid a cash dividend of $8 per share. On December 31, the prevailing market price of the trading security is at $49 per share. How much is the carrying amount of the above investment on December 31, 2020?