Sigma Inc. acquires Tau Ltd. for $140,000,000 in cash and accounts for its investment as a merger. Tau’s balance sheet at the date of acquisition is as follows:

Assets	Amount	Liabilities and Equity	Amount
Current assets	$12,000,000	Liabilities	$65,000,000
Property, net	$80,000,000	Equity	$27,000,000
Total assets	$92,000,000	Total liabilities and equity	$92,000,000

The fair value of Tau’s current assets is $1,200,000 less than book value. The fair value of its property is $22,000,000 less than book value. The book value of its liabilities approximates fair value. There are no unreported assets or liabilities.

Requirement: How much goodwill does Sigma report for this acquisition?