Kloth acquires 100 percent of the outstanding voting shares of Button Company on January 1, 2020. To obtain these shares, Kloth pays $400,000 cash and issues 20,000 shares of $1 par value common stock on this date. Kloths stock had a fair value of $10 per share. Kloth also pays an additional $3,000 in stock issuance costs. At date of acquisition, the book values and fair values of Button's net assets amounted to $450,000 and $520,000, respectively.

What amount was reported for goodwill as a result of this acquisition?

		$-0-
		$77,000
		$180,000
		$80,000