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 $900,000 for Oxford, which has the following accounts:

	Fair Value			Tax Basis
Accounts receivable	$	160,000		$	160,000
Inventory		218,000			218,000
Land		111,000			111,000
Buildings		224,250			165,000
Equipment		235,250			175,000
Liabilities		(264,000	)		(264,000	)

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.