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Traynor Corporation reports 40 percent investment in victor company on its December 31, 2017 balance sheet at $14,608,000 . Traynor acquired its investment into victor on January 2 2015 and uses the equity method to account for the investment. Victor's assets and liabilities were fairly stated on January 2, 2015 except of unreported technology (5 year life) of $4million. Victor reported net income of $1.2 million, 1.5 million and 1.4 million and paid dividends of $200000, 250000, and 230000 respectively.

How much did Traynor pay for its investment in victor Company on January 2, 2015?

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