On January 1, 2025, Culver Co. purchased 26,000 shares (a 10% interest) in Elton John Corp. for $1,290,000. At the time, the book value and the fair value of John's net assets were $12,200,000. On July 1, 2026, Culver paid $3,300,000 for 52,000 additional shares of John common stock, which represented a 20% imvestment in John. As a result of this transaction, Culver owns 30% of John and can exercise significant influence over John's operating and financial policies. John reported the following net income and declared and paid the following dividends. Determine the ending balance that Culver Co. should report as its investment in John Corp. at the end of 2026. Investment in Elton John Corp. $