Douglas, Inc., employs a normal costing system. The following information pertains to the year just ended.

• Total manufacturing costs were $2,500,000.
• Cost of goods manufactured was $2,425,000.
• Applied manufacturing overhead was 30 percent of total manufacturing costs.
• Manufacturing overhead was applied to production at a rate of 80 percent of direct-labor cost.
• Work-in-process inventory on January 1 was 75 percent of work-in-process inventory on December 31.

Based on this information, what is the value of the company's work-in-process inventory on December 31.