Enya Corporation acquired 100 percent of Celtic Corporation's common stock on January 1, 20X9. Summarized balance sheet information for the two companies immediately after the combination is provided:
	Enya Corp.	Celtic Corporation
Item		Book Value	Fair Value
Cash and Receivables	60,000	15,000	15,000
Inventory	110,000	32,000	38,000
Buildings and Equipment (net)	160,000	90,000	120,000
Investment in Celtic Stock	150,000
Total	480,000	137,000	173,000
Accounts Payable	40,000	5,000	5,000
Bonds Payable	200,000	40,000	40,000
Common Stock	100,000	40,000
Retained Earnings	140,000	52,000
Total	480,000	137,000	45,000
Based on the preceding information, the amount of differential associated with the acquisition is: