Piel, Inc. acquired 30% of Baxter Corporation's voting stock on January 1, 2021 for $900,000. During 2021, Baxter earned $600,000 and paid dividends of $250,000. Piel's 30% interest in Baxter gives Piel the ability to exercise significant influence over Baxter's operating and financial policies. During 2022, Baxter earned $500,000 and paid cash dividends of $150,000 on April 1 and $150,000 on October 1. On July 1, 2022, Piel sold half of its stock in Baxter for $660,000 cash. The carrying amount of this investment in Piel's December 31, 2021 balance sheet should be $900,000$1,005,000$825,000$980,000