AA and BBB formed a joint venture called CCC on January 1, 2022.

Presented below are some relevant details on the establishment of this Joint Venture:

All transactions were considered to be of commercial substance.

The fiscal year end for all three entities (AAA, BBB, CCC) is December 31.

AAA contributed plant and equipment with a fair value of $830,000.

AAA's share in the venture was 25%; BBB's share is 75%.

BBB contributed assets with a book value of $1,100,000 All assets transferred had a remaining useful life of 19 years.

At the end of 2022, AAA realized a gain of $4,450 for its share of contributed plant and equipment

Required: Calculate the book value of plant and equipment contributed by AAA.