On January 1, Tesco Company spent a total of $4,428,000 to acquire control over Blondel Company. This price was based on paying $432,000 for 20 percent of Blondel's preferred stock and $3,996,000 for 90 percent of its outstanding common stock. At the acquisition date, the fair value of the 10 percent noncontrolling interest in Blondel's common stock was $444,000. The fair value of the 80 percent of Blondel's preferred shares not owned by Tesco was $1,728,000. Blondel's stockholders' equity accounts at January 1 were as follows: Preferred stock -9%, $100 par value, cumulative and participating; 10,000 shares outstanding Common stock-$50 par value; 40,000 shares outstanding Retained earnings Total stockholders' equity $1,000,000 2,000,000 3,350,000 $6,350,000 Tesco believes that all of Blondel's accounts approximate their fair values within the company's financial statements. What amount of consolidated goodwill should be recognized?