Farmer Corporation purchases 30% of the common stock of Jackson, Inc. at a purchase price of $13.5 million cash. Farmer has significant influence over Jackson. During the year, Jackson reports net income of $1,800,000 and pays $340,000 of cash dividends. At the end of the year, the market value of Farmer's investment is $14.8 million. What is the year-end balance of the equity investment in Jackson