On January 1, Year 1, ANT Ltd. invested $400,000 in cash for a 30 percent interest in TAM Inc. As a part of the investment, ANT and the other shareholder in TAM signed an agreement under which the two shareholders had joint control over TAM. The acquisition differential on ANTs 30 percent investment was $50,000. It pertained entirely to one of TAMs patents, which had a remaining useful life of five years at the date of the investment by ANT. During Year 1, TAM reported net income of $170,000 and paid dividends of $100,000. ANT reports its investment in TAM using the equity method. How much will ANT report as investment in TAM on statement of financial position for the year ended December 31, Year 1?