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France Company purchases Holland Company for $3,200,000 cash on January 1, 2020. The book value of Holland Company's net assets, as reflected on its December

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France Company purchases Holland Company for $3,200,000 cash on January 1, 2020. The book value of Holland Company's net assets, as reflected on its December 31, 2019 balance sheet is $2,480,000. An analysis by France on December 31, 2019 indicates that the fair value of Holland's tangible assets exceeded the book value by $240,000, and the fair value of identifiable intangible assets exceeded book value by $190,000. How much goodwill should be recognized by France Company when recording the purchase of Holland Company

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