Johnson Corporation acquired all of the outstanding common stock of Smith Corporation for $12,320,000 in cash. The book value of Smith's net assets (assets minus liabilities) was $8,900,000. The fair values of all of Smith's assets and liabilities were equal to their book values with the following exceptions: Receivables Property, plant, and equipment Intangible assets Book Value $2,400,000 9,100,000 310,000 Fair Value $ 2,090,000 10,610,000 1,420,000 Required: Calculate the amount paid for goodwill. Goodwill