Cincinnatus Company paid $5,000,000 to acquire theSproyer Corporation, which became a division of Cincinnatus. The acquisition wasfinalized January 1, 2016. Sproyer reported the following balance sheet at the time of the acquisition: At the date of the purchase the fair value of the identifiable net assets ofSproyer was $4,675,000. At December 31, 2016,Sproyer reports the following balance sheet information: The 12/31/16 fair value of the Sproyer division was determined to be $4,375,000. The recorded amount for Sproyers net assets (excluding goodwill) is the same as fair value, except for property, plant, and equipment, which has a fair value of $75,000 above the carrying value.

On 12/31/16, Goodwill reported on the balance sheet is