On January 2, 2021 Crane Company purchased 25% of the outstanding common stock of Jobs, Inc. and subsequently used the equity method to account for the investment. During 2021 Jobs, Inc. reported net income of $1370000 and distributed dividends of $595000. The ending balance in the Investment in Crane Company account at December 31, 2021 was $1015000 after applying the equity method during 2021. What was the purchase price Crane Company paid for its investment in Jobs, Inc?

$523750

$821250

$1506250

$1208750