Plexiglass purchases 80% of the outstanding common stock of Sunglass on Jan 1, 2012 for $1500000. During the year 2012 Sunglass reports net income of $100000 and declares dividends of $5000. Prior to consolidation of elimination entries the balance in Plexiglass's investment in Sunglass' account was:

$1576000 or $1595000 or $1600000 or $1836000