Since its incorporation in 2010, Park Inc. has qualified as a CCPC. During the period since incorporation until December 31, 2021, the company has had the following transactions that might involve the capital dividend account: 

1. In 2012, the company sold depreciable property with an ACB of $225,000. It was the last property in its class and the balance in the class at the time of the sale was $129,600. The proceeds from the sale were $275,000. No additional property was purchased in 2012. 

2. In 2014, the company received a capital dividend of $46,000. 

3. In 2015, the company received life insurance proceeds, net of the adjusted cost basis of the policy, in the amount of $27,500. 

4. In 2016, the company paid a capital dividend of $38,000 and eligible dividends of $19,000. The required election and designation were made. 

5. In 2016, the company sold a parcel of land for $100,000. The ACB of this land was $145,000. 

6. In January 2021, Park acquired all of the shares of a small business corporation at a cost of $850,000. Park had intended to merge the two corporations together, but before this could take place the company received an unsolicited offer to purchase the shares for $965,000. Finding this offer too attractive to resist, it was accepted and the shares were sold on October 1, 2021, for $965,000. 

7. In 2021, the company received a capital dividend of $17,800. They paid a capital dividend of $21,600 and eligible dividends of $8,000. The required election and designation were made.

 Required: Determine the balance in the company’s capital dividend account as of December 31, 2021