Roxanne acquired 90% of Kirk common stocks on December 31, 2013 issuing $800,000 in Roxanne stock to Kirks former shareholders. Kirk book value of equity at acquisition was $600,000 ($150,000 common stock and $450,000 R/E). The only fair value difference identified in this acquisition was in PPE, the FV was $400,000 and the BV was $250,000. This PPE had a remaining life of three years on the acquisition date. The corporate tax rate is 30%.

Consider the effect of deferred taxes and determine what the goodwill is at the acquisition date?