On January 3, 2018, Austin Corp. purchased 28% of the voting common stock of Gainsville Co., paying $3,620,000. Austin used the equity method to account for this investment.

At the time of the investment, Gainsville's total stockholders' equity was $8,600,000. Gainsville had franchise agreements with a fair market value of $432,000.

Austin gathered the following information about Gainsville's assets and liabilities:

 Life BV FMV Building 10 yrs. $ 400,000 $ 560,000 Equipment 5 yrs. $1,000,000 $1,420,000 

For all other assets and liabilities, book value and fair market value were equal.

What is the amount of Goodwill associated with this investment?