On January 3, 2020, Vasquez Manufacturing Company decided to expand by purchasing Wasserman Company. The balance sheet of Wasserman Company as of December 31, 2019 was as follows:

Wasserman Company

Balance Sheet

December 31, 2019

Assets Liabilities and Equities

Cash $ 210,000 Accounts payable $ 375,000

Receivables 550,000 Common stock 800,000

Inventory 275,000 Retained earnings 885,000

Plant assets (net) 1,025,000

Total assets $2,060,000 Total liabilities and equities $2,060,000

An appraisal, agreed to by the parties, indicated that the fair value of the inventory was $350,000 and that the fair value of the plant assets was $1,425,000. The fair value of the receivables is equal to the amount reported on the balance sheet. The agreed purchase price was $2,445,000, and this amount was paid in cash to the previous owners of Wasserman Company.

Determine the amount of goodwill (if any) implied in the purchase price. (4 points)