On November $13,$ Underhill, Incorporated, a calendar year taxpayer, purchased a business for a $$778,500$ lump$-$sum price. The business$$s balance sheet assets had the following appraised FMV:

Accounts receivable $ $49,500$

Inventory $180,000$

Tangible personalty $427,500$

$ $657,000$

Required:

What is the cost basis of the goodwill acquired by Underhill on the purchase of this business?

Compute Underhill$$s goodwill amortization deduction for the year of purchase.

Assuming a $21$ percent tax rate, compute the deferred tax asset or deferred tax liability $($identify which$)$ resulting from Underhill$$s amortization deduction.