On January 2, 2024, Kate Inc. purchased 15,000 shares of Harry Co. for $150,000 giving Kat Inc. a 15% ownership of Harry. The fair value of the 15% investment was the same as the carrying value of the investment when, on January 1, 2025, Kate Inc. purchased an additional 25,000 shares (25%) of Harry for $300,000. This last purchase gave Kate Inc. the ability to apply significant influence over Harry. The book value of Harry on January 2, 2024 was $1,000,000. The book value of Harry on January 1, 2025, was $1,100,000 . Any excess of cost over book value for this second transaction is assigned to a database and amortized over four years. Harry reports net income and dividends as follows. These amounts are assumed to have occurred evenly throughout the years: Net Income Dividends 2024 $200,000 $ 50,000 2025 225,000 50,000 2026 250.00060,000 On April 12026. just after its first dividend receiptKate Inc. sells 10.000 shares of its investment. What is the balance in the investment account for the 15% ownership interestat January 1 2025