Elizabeth Pie Company has been in business for $50$ years and has developed a large group of loyal restaurant customers. Giant

Bakery Incorporated has made an offer to buy Elizabeth Pie Company for $$5,100,000.$ The book value of Elizabeth Pie's recorded

assets and liabilities on the date of the offer is $$4,350,000$ with a fair value of $$4,600,000.$ Elizabeth Pie also $(1)$ holds a patent for a pie

crust fluting machine that the company invented $($the patent with a fair value of $$305,000$ was never recorded by Elizabeth Pie

because it was developed internally$)$ and $(2)$ estimates goodwill from loyal customers to be $$306,000($also never recorded by the

company$).$

If Elizabeth Pie Company management accepts Giant Bakery's offer of $$5,100,000,$ compute the amount of goodwill that Giant Bakery

should record on the date of the purchase.