On January 1, 2012, Mike Company issues 15,000 shares of its common stock with a fair value of $30 per share for all of the 10,000 outstanding common shares of Troy Company. Troy's stock was trading at $44 prior to announcement. Direct transaction costs of $3,000 were paid to affect the acquisition. In addition, Riker promised to pay an additional $2,500 to the former owners if Troy's earnings exceeded a certain amount by the end of the year. The fair value of the potential obligation is estimated at $1,500.

Compute the investment to be recorded at the date of acquisition.