On January 1, 2019, Dragon Corp. paid $800,000 for 100,000 shares of Peach Company's common stock, which represents 40% of Peach's outstanding common stock. Peach reported net income of $200,000 and paid cash dividends of $60,000 during 2019. On December 31, 2019, Peach Company was trading at $10 per share. At what amount should Dragon report the investment in Peach Company on its December 31, 2019 balance sheet