Igloo Corporation purchased Sunshine, Inc. for $910,000 on December 31, Year7. Sunshine had three assets and one liability on the date of purchase. The book value (balance sheet valuation) and fair value of the net assets (assets less liabilities) at the date of acquisition were as follows:

Account........................Book value................... Fair value

Accounts Receivable...$.48,000..........................$40,000

Land.............................20,000.........................$500,000

Copyright......................12,000.........................$300,000

Accounts Payable.........(20,000).................. ......(20,000)

Net assets...................$60,000....................... $820,000

What will Igloo record as goodwill on the purchase? ______________