On January 1, 2015, HJ paid $600,000 for 20,000 shares of MN's common shares, which represents a 15 percent investment in MN. HJ does not have the ability to exercise significant influence over MN. MN declared and paid a dividend of $1 a share to its stockholders during 2015. MN reported net income of $520,000 for the year ended December 31, 2015. The balance in HJ's balance sheet account "Investment in MN" at December 31, 2001 under the cost method, should be