Education Corporation purchased all of Agency Co$.\text{'}$s common stock on January $1,2$XX$2,$ for $$4,000,000$ cash. Agency's stockholders' equity amounted to $$2,800,000.$ The excess of $$1,200,000$ was due to an unrecorded patent with a $15-$year life. In $2$XX$2,$ Agency reported net income of $$1,000,000$ and paid dividends of $$100,000.$

What is the Equity Investment balance at December $31,2$XX$2?$