ASAP!!! Elizabeth Pie Company has been in business for 50 years and has developed a large group of loyal restaurant customers. Giant Bakery Ltd. has made an offer to buy Elizabeth Pie Company for $5,000,000. Elizabeth Pies recorded assets and liabilities on the date of the offer had a net a net book value of $4,300,000 with a fair value of $4,500,000. Elizabeth Pie also holds a patent for a pie crust fluting machine that the company invented. The patent, with a fair value of $300,000, was never recorded by Elizabeth Pie because it was developed internally. The company estimates goodwill from loyal customers to be $310,000 (also never recorded by the company). If Elizabeth Pie Company management accept Giant Bakery's offer of $5,000,000. Compute the amount of goodwill that Giant Bakery should record on the date of the purchase