Fowler Manufacturing Company decided to expand further by purchasing Blye Company. The balance sheet of Blye Company as of December 31, 2024 was as follows: Blye Company Balance Sheet December 31, 2024 Assets Cash $ 210,000 Equities Accounts payable Common stock Retained earnings Receivables 450,000 $ 325,000 800,000 835,000 Inventory Plant assets (net) Total assets 275,000 1.025.000 $1.960.000 Total equities $1.960,000 An appraisal, agreed to by the parties, indicated that the fair market value of the inventory was $320,000 and that the fair market value of the plant assets was $1,425,000. The fair market value of the receivables is equal to the amount reported on the balance sheet. The agreed purchase price was $2,300,000, and this amount was paid in cash to the previous owners of Blye Company. REQUIRED: Determine the amount of goodwill (if any) implied in the purchase price of $2,300,000. Show calculations using the Master Valuation Approach