On January $1,2025,$ Cullumber Co$.$ purchased $26,000$ shares $($a $10\%$ interest$)$ in Elton John Corp. for $$1,380,000.$ At the time,

the book value and the fair value of John's net assets were $$14,200,000.$

On July $1,2026,$ Cullumber paid $$3,000,000$ for $52,000$ additional shares of John common stock, which represented a $20\%$

investment in John. As a result of this transaction, Cullumber owns $30\%$ of John and can exercise significant influence over

John's operating and financial policies.

John reported the following net income and declared and paid the following dividends.

Determine the ending balance that Cullumber Co$.$ should report as its investment in John Corp. at the end of $2026.$

Investment in Elton John Corp. $