Equity Method Investment Calculation

ABC Corp acquired a 30% interest in XYZ Ltd. on January 1, 2023, for $1,500,000. During the year, XYZ Ltd. reported a net income of $600,000 and paid dividends amounting to $200,000. ABC Corp uses the equity method to account for its investment in XYZ Ltd.

What amount should ABC Corp report as its investment in XYZ Ltd. on its balance sheet at the end of 2023?