ACME Incorporated purchased 80% of the outstanding common shares of Kray Ltd on January 02, 2020 paying $1.5-million cash. At that time Kray had the following net assets: Book Value Fair Value Accounts receivable (net) 150,000 100,000 Inventory 276,000 300,000 Building (net) 960,000 900,000 Equipment (net) 450,000 400,000 Land 500,000 1,000,000 Accounts payable 350,000 350,000 Mortgage payable 850,000 850,000 Total net assets $1,136,000 $1,500,000 Required: Calculate the value of goodwill (if any) recognized on the purchase. Round final calculations to the nearest dollar and show your work