Carrying Amount of Investment under Equity Method

ABC Corporation acquired a 30% stake in XYZ Ltd. on January 1, 2021, for $1,000,000. At the time of acquisition, XYZ Ltd. had total equity of $4,000,000 and reported net income of $400,000 for the year 2021.

Under the equity method, ABC Corporation recognizes its share of XYZ Ltd.'s net income. Additionally, XYZ Ltd. paid dividends totaling $100,000 during the year. Assuming no impairment or further contributions occurred, what will be the carrying amount of ABC Corporation's investment in XYZ Ltd. at the end of 2021?