The following financial statement information is for an investor company and an investee company on January 1, 2019. On January 1, 2019, the investor company's common stock had a traded market value of $27 per share, and the investee company's common stock had a traded market value of $20 per share.

Book ValuesFair ValuesInvestorInvesteeInvestorInvesteeReceivables & inventories$144,000$72,000$135,000$64,800Land288,000144,000315,000180,000Property & equipment324,000144,000360,000187,200Trademarks & patents120,000115,200Total assets$756,000$360,000$930,000$547,200Liabilities$216,000$115,200$240,000$123,000Common stock ($1 par)30,00024,000Additional paid-in capital402,000206,400Retained earnings108,00014,400Total liabilities & equity$756,000$360,000Net assets$540,000$244,800$690,000$424,200

Assume that the investor company issued 22,500 new shares of the investor company's common stock in exchange for 100% of the common stock of the investee company, in a transaction that qualifies as a business combination. The financial information presented, above, was prepared immediately before this transaction. Provide the Investor Company's balance (i.e., on the investor's books, before consolidation) for "Investment in Investee" immediately following the acquisition of the investee's common stock: