On January $1,2025,$ Crane Co$.$ purchased $22,000$ shares $($a $10\%$ interest$)$ in Elton John Corp. for $$1,400,000.$ At the time, the book value and the fair value of John's net assets were $$12,000,000.$

On July $1,2026,$ Crane paid $$3,100,000$ for $44,000$ additional shares of John common stock, which represented a $20\%$ investment in John. As a result of this transaction, Crane owns $30\%$ of John and can exercise significant influence over John's operating and financial policies.

John reported the following net income and declared and paid the following dividends.

$\backslash$table$[[,$Net Income,,Dividend per Share$],[$Year ended $12/31/25,$$$740,000,,$None$],[$Six months ended $6/30/26,530,000,,$None$],[$Six months ended $12/31/26,792,000,$$$1\mathrm{.}70,]]$

Determine the ending balance that Crane Co$.$ should report as its investment in John Corp. at the end of $2026.$

Investment in Elton John Corp. $ $$