On January 2, 2018 Ivanhoe Company purchased 20% of the outstanding common stock of Jobs, Inc. and subsequently used the equity method to account for the investment. During 2018 Jobs, Inc. reported net income of $1160000 and distributed dividends of $490000. The ending balance in the Investment in Ivanhoe Company account at December 31, 2018 was $910000 after applying the equity method during 2018. What was the purchase price Ivanhoe Company paid for its investment in Jobs, Inc?