On January 1, 2020 OurNewco paid $2 million for 50,000 shares of Annies voting common stock. Annie Company has 100,000 shares outstanding. At the time of purchase Annies total stockholders equity was valued at $4,000,000. If Annie Company reported net income of $200,000 and paid dividends of $3 per share then at the end of 2020 OurNewco would report an Investment in Annie balance of?