Willkom Corporation buys 100% of Szabo Inc. on January 1, 2018, at a price in excess of the subsidiarys fair market value. On that date, Willkoms equipment (10 year life) has a book value of $600,000 but a fair market value of $800,000. Szabo has equipment (10 year life) with a book value of $400,000 but a fair market value of $600,000. Willkom uses the partial equity method to record its investment in Szabo. On December 31, 2020, Willkom has equipment with a book value of $420,000 but a fair market value of $660,000. Szabo has equipment with a book value of $280,000 and a fair market value of $540,000. What is the consolidated balance for the equipment account as of December 31, 2020?