On January 1, Aivah Company purchased 2,000 common shares (25%) of Maywood Corporation as a long-term investment for $265,000. Later in the year, Maywood paid $29,000 in total cash dividends on December 15 and reported net income of $86,000 for the year ended December 31. Determine the amount reported as an equity method investment on Aivah's December 31 balance sheet.