Alpha Company is considering the purchase of Beta Company. Alpha has collected the following data about Beta:

		Beta Company Book Values		Estimated Market Values
Total identifiable assets		$589,600		$799,500
Total liabilities		294,300		348,700
Owners equity		$295,300

Cumulative total net cash earnings for the past five years of $884,400 includes extraordinary cash gains of $62,600 and nonrecurring cash losses of $49,900. Alpha Company expects a return on its investment of 12%. Assume that Alpha prefers to use cash earnings rather than accrual-based earnings to estimate its offering price, and that it estimates the total valuation of Beta to be equal to the present value of cash-based earnings (rather than excess earnings) discounted over five years. (Goodwill is then computed as the amount implied by the excess of the total valuation over the identifiable net assets valuation.)

Compute (a) an offering price based on the information above that Alpha might be willing to pay, and (b) the amount of goodwill included in that price.