Parent Ltd purchased all of the issued shares of Subsidiary Ltd for $122670 on 1st July 2013. On that date, Subsidiary Ltd's shareholders' equity comprised share capital of $31698 and retained earnings of $22976. All of Subsidiary Ltd's assets and liabilities were recorded at fair value except for inventory and equipment. The inventory had a carrying amount of $10000 and a fair value of $14405. The equipment has a carrying amount of $30000 and a fair value of $39747. The tax rate is 30%.

How much goodwill will be recorded in the consolidated financial statements for Parent Ltd at the date of acquisition?