Salem Co. had the following account balances as of December 1, 2012:

Inventory 720,000

Land 600,000

Buildings- Net (valued at 1,200,000) 1,080,000

Common Stock $10 Par value 960,000

Retained Eanings, Dec 1, 2012 1,320,000

Revenues 720,000

Expenses 600,000

Bellington Inc. transferred $1.7 million in cash and 12,000 shares of its newly issued $30 par value common stock (valued at $90 per share) to acquire all of Salem's outstanding common stock. Determine the balance for Goodwill that would be included in a December 1, 2012, consolidation.