Destiny Company is considering acquisition of the net assets of Fate Company as part of a diversification program. The management of Destiny believes the excellent reputation of Fate provides an opportunity to achieve a level of earnings in excess of the normal rate of 10%. In fact, it expects to earn a rate of 12% on its investment. The following information is available on Fate Company: Current value Current assets 8,750,000 Noncurrent assets 14,000,000 Liabilities 14,250,000 Excess earnings are expected to continue over a five-year period. What is the amount of goodwill under the present value method