On January 1, 2021, Cullumber Company purchased 20% of Ace Corporation's common stock; no goodwill resulted from the purchase. Cullumber appropriately carries this investment at equity and the balance in Cullumber's investment account was $1410000 at December 31, 2021. Ace reported net income of $820000 for the year ended December 31, 2021, and paid cash dividends on common stock totaling $340000 during 2021. How much did Cullumber pay for its 20% interest in Ace?

$1506000.

$1314000.

$1642000.

$1478000.