Beverage Inc. acquires Snack Ltd. for $30,000,000 in cash and accounts for its investment as a merger. Snack’s balance sheet at the date of acquisition is as follows:

Assets	Amount	Liabilities and Equity	Amount
Current assets	$1,200,000	Liabilities	$6,000,000
Property, net	$8,000,000	Equity	$3,200,000
Total assets	$9,200,000	Total liabilities and equity	$9,200,000

The fair value of Snack’s current assets is $100,000 less than book value. The fair value of its property is $1,500,000 less than book value. The book value of its liabilities approximates fair value. There are no unreported assets or liabilities.

Requirement: How much goodwill does Beverage report for this acquisition?