On January 1 of the current year, Barger Company bays 150,000 shares of Booker, Incorporated'r cornmon stock for $1,200,000, the book value of the shares. This purchase gave Barger 25% ownership in Booker and the ability to significantly influcnce operating and financing decisions. At the time of the acquisition, Booker had a total book value of $4,800,000. During the current year, Booker reported net income of $700,000 and paid a $0.85 per share dividend Barger elects to use the equity method of accounting. What is the balance in the Investanent in Booker account in the recofds of Barger Company at Decernber 31, of the current year? $1,247,500 $1,200,000 $1,772,500 $1,900,000