On January $3,2024,$ Matteson Corporation acquired $40$ percent of the outstanding common stock of OToole Company for $$1,410,000.$ This acquisition gave Matteson the ability to exercise significant influence over the investee. The book value of the acquired shares was $$861,000.$ Any excess cost over the underlying book value was assigned to a copyright that was undervalued on its balance sheet. This copyright has a remaining useful life of $10$ years. For the year ended December $31,2024,$ OToole reported net income of $$289,000$ and declared cash dividends of $$45,000.$ On December $31,2024,$ what should Matteson report as its investment in OToole under the equity method?