King's Road recently acquired all of Oxford Corporation's stock and is now consolidating the financial data of this new subsidiary. King's Road paid a total of $965,000 for Oxford, which has the following accounts:

	Fair Value			Tax Basis
Accounts receivable	$	170,000		$	170,000
Inventory		151,000			151,000
Land		199,000			199,000
Buildings		201,500			147,000
Equipment		255,750			192,000
Liabilities		(289,000	)		(289,000	)

1. What amount of deferred tax liability arises in the acquisition?

2. What amounts will be used to consolidate Oxford with King's Road at the date of acquisition?

3. On a consolidated balance sheet prepared immediately after this takeover, how much goodwill should King's Road recognize? Assume a 30 percent effective tax rate.