Power Corporation performs year$-$end planning in October of each year before its calendar year ends in December. The preliminary estimated net income is $$2,760,000.$ The CFO meets with the company president to review the projected numbers. She presents the following projected information:

POWER CORPORATION PROJECTED INCOME STATEMENT FOR THE YEAR ENDED DECEMBER $31,2025$

Sales

Cost of goods sold

Depreciation

Operating expenses

Income before income tax

Income tax

Net income

$$45,000,000$

$$26,000,000$

$2,800,000$

$\frac{11,600,000}{4,600,000}$

$[1,840,000],[$$$2,760,000]$

POWER CORPORATION

SELECTED BALANCE SHEET INFORMATION AT DECEMBER $31,2025$

Estimated cash balance

$$2,000,000$

Available$-$for$-$sale securities $($at cost$)$

$6,000,000$

Fair value adjustment $(\frac{1}{1}\frac{?}{25}),1,400,000$

Estimated market value at December $31,2025$ :

$\backslash$table$[[$lecurity$,$Cost,Estimated Market$],[,\backslash$table$[[$$$2,000,000$