Harry purchases 80% of David by paying $50 per share for 40,000 shares of David. The remaining 10,000 shares of David are held by minority shareholders and are worth $40 per share both before and after the acquisition. Assume that 100% of the FVNAA of David at date of acquisition is $2,200,000.

Question: Calculate Goodwill and determine how much is allocated to the controlling and non-controlling interest.