Franklin Company owns 40% of the voting common stock of Academic Services Incorporated. Franklin uses the equity method to account for its investment. On January 1, 2024, the balance in the investment account was $726,000. During 2024, Academic Services reported net income of $150,000 and paid dividends of $40,000. Any excess of fair value over book value is attributable to goodwill with an indefinite life. What is the balance in the investment account as of December 31, 2024?