Jernigan Corp. had the following account balances:

Receivables $96,000

Inventory $240,000

land $720,000

Building $600,000

Liabilities ($480,000)

Common Stock ($120,000)

Additional paid in capital ($120,000)

Retained Earnings Beginning ($840,000)

Revenue ($360,000)

Expense $264,000

Several of Jernigan's accounts have fair values that differ from book value:

Land $480,000

Building $720,000

Inventory $336,000

Liabilities ($396,000)

Inglewood Inc. obtained all of the outstanding common shares of Jernigan by issuing 20,000 shares of common stock having a $6 par value, but a $66 fair value. Stock issuance costs amounted to $12,000. How much goodwill will be recorded from this transaction?