Consolidation

On 31 March, 2014 when Code plc acquired 65% of the 3,000,000 $1 equity shares of Dole pic, the retained earnings of Code pic and Dole plc were $2,720,000 and $1,940,000 respectively and the market value of the Dole plc shares was $2.60
The carrying amounts of the Dole plc net assets were approximately equal to their fair values with the exception of a parcel of land that had a fair value $650,000 greater than its carrying value.

The terms of the acquisition were that Code plc would issue 2 new shares in Code plc for every 5 shares acquired in Dole plc and would pay $1.20 for each share acquired. In addition Code plc would issue a $100 7% Unsecured Loan Note for every 390 shares acquired

The Code plc shares had a market value as at date of acquisition of $2.80. Code pic has decided to measure the non-controlling interest at fair value with the Dole plc share price being a reasonable indication of fair value

At 31 December, 2014 the retained earnings of Code plc and Dole plc were $2,690,000 and $1,780,000 respectively. Goodwill is not impaired

At what amount should the non-controlling interest be shown in the consolidated statement of financial position for the Code pic group as at 31 December, 2014?