On January $1,2022,$ Adam Co$.$ acquired $15,000$ shares of Conor Company for $$175,000$ giving Adam a $10\%$ ownership of Conor.$$ Adam appropriately accounts for this investment using the fair value method.$$ The market value of Adam$$s investment at December $31,2022$ was $$183,000.$

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On January $1,2023,$ Adam purchased an additional $25,000$ shares $(25\%)$ of Conor for $$355,000.$ This last purchase gave Adam Co$.$ the ability to exercise significant influence over Conor Corp.$$

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The book value of Conor on January $1,2023$ was $$1,285,000.$ Any excess of cost over book value is assigned to a database which has a remaining life of five years at January $1,2023.$ Conor reports net income for $2023$ of $$185,000$ and dividends were paid in $2023$ of $$35,000.$

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Required:

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Calculate the balance in the Investment account at December $31,2023.$