Hutton Company acquires all of Hodge Companys assets and liabilities for $15,000,000 in cash. The fair values of Hodges assets and liabilities approximate their book values, except Hodge has developed technology valued at $8,000,000 that is not reported on its balance sheet, and its buildings are overvalued by $7,000,000. Here is Hodges balance sheet just prior to the acquisition: Hodge Company Current assets $ 500,000 Land, buildings, and equipment 9,500,000 Total assets $10,000,000 Liabilities $ 6,000,000 Common stock, $1 par 100,000 Additional paid-in capital 2,915,000 Retained earnings 1,000,000 Treasury stock (20,000) Accumulated other comprehensive income 5,000 $10,000,000 REQUIRED: Calculate the amount of Goodwill or Gain that resulted from the acquisition.