On January $4,2024,$ Mason Company purchased $40,000$ shares $(40\%)$ of the common stock of Hefly Corporation, paying $$560,000.$ At that time, the book value and fair value of Hefly$$s net assets was $$1,400,000.$ The investment gave Mason the ability to exercise significant influence over the operations of Hefly. During $2024,$ Hefly reported income of $$150,000$ and paid dividends of $$40,000.$ On January $2,2025,$ Mason sold $10,000$ shares for $$150,000.$

What was the balance in the investment account before the shares were sold?