The financial balances for the Atwood Company and the Franz Company as of December 31, 2013, are presented below. Also included are the fair values for Franz Company's net assets.

Atwood Franz Co Franz Co

(all numbers are in thousands)

Book Value Book Value Fair Value

12/31/2013 12/31/2013 12/31/2013

Cash $870 $240 $240

Receivables 660 600 600

Inventory 1230 420 580

Land 1800 260 250

Buildings (net) 1800 540 650

Equipment (net) 660 380 400

Accounts Payable (570) (240) (240)

Accrued expenses (270) (60) (60)

Long-term liabilities (2,700) (1,020) (1,120)

Common stock ($20 par) (1,980)

Common stock ($5 par) (420)

Additional paid-in capital (210) (180)

Retained earnings (1,170) (480)

Revenues (2,880) (660)

Expenses 2,760 620 Note: Parenthesis indicate a credit balance Assume an acquisition business combination took place at December 31, 2013. Atwood issued 50 shares of its common stock with a fair value of $35 per share for all of the outstanding common shares of Franz. Stock issuance costs of $15 (in thousands) and direct costs of $10 (in thousands) were paid. Compute the investment to be recorded at date of acquisition.

$1,750.

$1,760.

$1,120.

$1,775.

$1,300.