On January 1, 2021 Gabriel Co. acquires all of the outstanding shares of Roman Corp. Gabriel pays Roman's shareholders $700,000 in cash and issues 50,000 shares of its common stock to Roman's shareholders. The shares have a $10 par value and a fair value of $450,000. Additionally, Gabriel agrees to pay an additional $500,000 in cash if Roman Corp has sales in excess of $10 million in 2021. Gabriel estimates the probability adjusted present value of this contingent performance obligation at $150,000. In connection with the acquistion, Gabriel incurred $20,000 in stock issuance costs and paid $70,000 in legal fees. Additionally, Bart arranged a new bank loan of $400,000. The fair value of the consideration paid by Gabriel to Roman's shareholders is $