Hat Company presented the following data relative to a certain entity in determining the amount to be paid for net assets and goodwill:

Assets at fair value before goodwill	4,680,000
Liabilities	1,620,000

Net earnings after elimination of unusual or infrequent items:

2017	360,000
2018	414,000
2019	540,000
2020	450,000
2020	486,000

A return of 10% is considered normal on net assets at fair value. Excess earnings are expected to continue for 10 years. Goodwill is measured by the present value method using a 12.5% rate.

The present value of an ordinary annuity of 1 at 12.5% for 10 years is 5.5364.

The present value of 1 at 12.5% for 10 periods is 0.3079

REQUIRED: Compute the goodwill.