Jersey Company's December 31, 2021 balance sheet reports assets of $7,000,000 and liabilities of $2,500,000. All of Jersey's assets' book values approximate their fair value, except for equipment, which has a fair value that is $200,000 greater than its book value. On December 31, 2021, Texas Corporation paid $7,500,000 to acquire Jersey. What amount of goodwill should Texas record as a result of this purchase?