Sven Company acquired Seven Isles Group on December 31, 2017 for a total cost of $253,000. The following accounts were reported on the balance sheet for Southern Isles Group at the time of acquisition:

Cash $34,000

PP&E, net $184,000

Intangibles, net $78,000

Long-term debt $109,000

The fair value appraisal of Southern Isless assets and liabilities on the date of acquisition indicated that the fair value of PP&E was $202,000. The fair values for the remaining accounts are equal to the book values reported on Southern Isles balance sheet. In addition, Sven is willing to pay $253,000 for Southern Isles because it believes that it is acquiring customer lists that were not included on the balance sheet (fair value estimate at $40,000 based on an appraisal) and business synergies.

What is the amount of goodwill recorded on the date of acquisition?