Sandhill Manufacturing Corp. decided to expand further by purchasing the net assets of Blossom Manufacturing Corp. Blossom's statement of financial position at December 31, 2023 follows. BLOSSOM MANUFACTURING CORP. Statement of Financial Position December 31, 2023 Assets Liabilities and Equities Cash $155,000 Accounts payable $302,000 Receivables Inventory 457,000 280,000 Common shares 812,000 Retained earnings 844,000 Plant assets (net) 1,066,000 Total assets $1,958,000 Total liabilities and equities $1,958,000 An appraisal, agreed to by both parties, indicated that the fair value of the inventory was $327,000 and the fair value of the plant assets was $1,281,000. The fair value of the receivables and payables is equal to the amount reported on the statement of financial position. The agreed purchase price was $3 million, and this amount was paid in cash to the owners of Blossom. Calculate the amount of goodwill implied in the purchase price of $3 million. Implied goodwill GA $