On January 1, 2014, QuickPort Company acquired 90 percent of the outstanding voting stock of NetSpeed, Inc., for $810,000 in cash and stock options. At the acquisition date, NetSpeed had common stock of $800,000 and Retained Earnings of $40,000. The acquisition-date fair value of the 10 percent noncontrolling interest was $90,000. QuickPort attributed the $60,000 excess of NetSpeed's fair value over book value to a database with a 5-year remaining life. During the next two years, NetSpeed reported the following: Income Dividends 2014 $ 80,000 $8,000 2015 115,000 8,000 On July 1, 2014, QuickPort sold communication equipment to NetSpeed for $42,000. The equipment originally cost $48,000 and had accumulated depreciation of $9,000 and an estimated remaining life of three years at the date of the intra-entity transfer a. Compute the equity method balance in QuickPort's Investment in NetSpeed, Inc., account as of December 31, 2015. Investment in NetSpeed, Inc., 12/31/15 $ 948,450