On January 1, 2005, Grade Company paid $300,000 for 20,000 shares of Medium Company's common stock which represents a 15% investment in Medium. Grade does not have the ability to exercise significant influence over Medium. Medium declared and paid a dividend of $1 a share to its stockholders during 2005. Medium reported net income of $260,000 for the year ended December 31, 2005, and had a market value of $300,000 at December 31, 2005. The balance in Grade's balance sheet account "Investment in Medium Company" at December 31, 2005, should be ?