Quincy has decided to retire from the partnership of Quincy, Robert, and Sam. The partnership will pay Quincy $400,000, total partnership capital should be revalued based on the excess payment to Quincy. (Assume the book value of the assets listed below equals fair values). A summary balance sheet for the Quincy, Robert, and Sam partnership appears below. Quincy, Robert, and Sam share profits and losses in a ratio of 1:1:3, respectively.

Assets:

Cash $150,000 Marketable securities $76,000 Inventory $164,000 Land $300,000 Building - net $510,000 Total assets $1,200,000

Equities:

Quincy capital $320,000 Robert capital $280,000 Sam capital $600,000 Total equities $1,200.000

What goodwill will be recorded?