Based on the information given above, what amount of goodwill will be reported in a consolidated balance sheet prepared immediately following the combination?

Balance sheets for Fort Corporation and Steele Company on December 31, 2008, before acquisition, are as follows: Fort Steele Cash and Receivables $ 700,000 $240,000 Inventory 720,000 320,000 1191 Land 110,000 60,000 Buildings and Equipment (net) Total $2,040,000 $780,000 - 510,000 160,000 Current Payables Long-term Payables Common Stock Retained Earnings Total $ 140,000 420,000 600,000 880,000 $2,040,000 60,000 40. 320,000 200,000 200,000 $780,000 Note that Steele owed Fort $20,000 on account on 12/31; this amount is reflected in the above balances. Fort Corporation acquired 80 percent of Steele Company's outstanding stock for $450,000 cash on January 1, 2009. On that date, the fair value of Fort's depreciable assets was $600,000 and the fair value of Steele's depreciable assets was $280,000