On January $1$st$,2024,$ Zonko's Joke Shop decided to venture into a strategic alliance within the wizarding world by acquiring a substantial share of Weasleys' Wizard Wheezes. This was done through the purchase of $20\%$ of the voting shares available, costing Zonko's a cash amount of $$176,000.$ On the day of this acquisition, both the book value and the fair value of Weasleys' Wizard Wheezes were equal to $$880,000.$ Considering the nature of this acquisition, Zonko's uses the equity method for accounting for this investment. By the end of the year, specifically on December $31,2024,$ Weasleys' Wizard Wheezes reported a net income of $$84,000.$ Throughout $2024,$ Weasleys' also declared and paid cash dividends amounting to $$26,000.$

Required:

Determine the ending balance of the Investment in Weasleys' Wizard Wheezes account that Zonko's Joke Shop should report on its financial statements as of December $31,2024.$

Investment amount