The balance sheet of The Miller Corporation disclosed a long-term investment in the common shares of The Mann Corporation valued at $350,000 as of December 31, 2012.

The investment had been purchased by The Miller Corporation in January, 2009. Further, the following financial information from The Mann Corporation is available:

Year	Net Income (loss)	Dividends Paid
2009	($30,000)	$0
2010	120,000	50,000
2011	150,000	60,000
2012	200,00	80,000 Determine how much The Miller Corporation paid for its investment in Mann common shares in January 2009 assuming that the investment represents a 25 percent ownership interest.