Johnson Corporation acquired all of the outstanding common stock of Smith Corporation for $11,120,000 in cash. The book value of Smith's net assets (assets minus liabilities) was $7,900,000. The fair values of all of Smith's assets and liabilities were equal to their book values with the following exceptions: Book Value Fair Value Receivables $1,400,000 $1,190,000 Property, plant, and equipment 8,100,000 9,510,000 Intangible assets 210,000 1,220,000 Required: Calculate the amount paid for goodwill. Goodwill