Problem $1-7($Algo$)($LO $1-4,1-5)$

In January $2023,$ Domingo, Incorporated, acquired $20$ percent of the outstanding common stock of Martes, Incorporated, for $$832,000.$ This investment gave Domingo the ability to exercise significant influence over Martes, whose balance sheet on that date showed total assets of $$4,437,000$ with liabilities of $$917,000.$ Any excess of cost over book value of the investment was attributed to a patent having a remaining useful life of $10$ years.

In $2023,$ Martes reported net income of $$254,000$ In $2024,$ Martes reported net income of $$296,250.$ Dividends of $$100,000$ were declared in each of these two years. What is the equity method balance of Domingo's Investment in Martes, Incorporated, at December $31,2024?$