New Harvest Bakery acquired all the outstanding common stock of Red Rock Bakery for $$70,800$ in cash. The book values and fair values of Red Rock's assets and liabilities were as follows:

Book Value Fair Value

Current assets $ $26,900$ $ $28,700$

Property, plant, and equipment $42,50049,400$

Other assets $3,0005,900$

Current liabilities $18,20013,700$

Long$-$term liabilities $21,70019,000$

Required:

Calculate the amount paid for goodwill.