January 2, 2018 Pod Company purchased 25% of the outstanding common
stock of Jobs, Inc. and subsequently used the equity method to
account for the investment. During 2018 Jobs, Inc. reported net
income of $1,260,000 and distributed dividends of $540,000. The
ending balance in the Investment in Pod Company account at December
31, 2018 was $960,000 after applying the equity method during 2018.
What was the purchase price Pod Company paid for its investment in
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