Johnson Corporation acquired all of the outstanding common stock of Smith Corporation for $12,080,000 in cash. The book value of Smith's net assets (assets minus liabilities) was $8,700,000. 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 $2,200,000 8,900,000 290,000 Fair Value $ 1,910,000 10,390,000 1,380,000 Required: Calculate the amount paid for goodwill. Goodwill