Goodwill

Corman Company is considering purchasing EKC Company. EKC's balance sheet at December $31,2019,$ is as follows:

At December $31,2019,$ Corman discovered the following about EKC:

a$.$ No allowance for uncollectible accounts has been established. An allowance of $$4,800$ is considered appropriate.

b$.$ The LIFO inventory method has been used. The FIFO inventory method would be used if EKC were purchased by Corman. The FIFO inventory valuation of the

December $31,2019,$ ending inventory would be $$160,000.$

c$.$ The fair value of the property, plant, and equipment $($net$)$ is $$760,000.$

d$.$ The company has an unrecorded patent that is worth $$100,000.$

e$.$ The book values of the current liabilities and bonds payable are the same as their market values.

Required:

Compute the value of the goodwill if Corman pays $$1,339,200$ for EKC.