ABC Company uses the equity method to account for its 50% interest in the voting stock of XYZ Company. ABC paid $6,250,000 for the investment at the beginning of the current year, and XYZ's total book value at the time was $7,000,000. The discrepancy between acquisition cost and share of book value acquired was attributed to goodwill. XYZ reported income of $500,000 and paid dividends of $300,000 during the year. ABC will report its investment in XYZ on its end-of-year balance sheet at what amount