Crane Company purchases Haeger Company for $2510000 cash on January 1, 2018. The book value of Haeger Companys net assets, as reflected on its December 31, 2017 balance sheet is $1959000. An analysis by Crane on December 31, 2017 indicates that the fair value of Haegers tangible assets exceeded the book value by $196500, and the fair value of identifiable intangible assets exceeded book value by $146500. How much goodwill should be recognized by Crane Company when recording the purchase of Haeger Company?

$551,000

$208,000

$0

$354,500