The BUTTER Company had these accounts at the time it was acquired by FLY Co.:

Cash P 108,000

Accounts receivable 1,371,000

Inventories 360,000

Property, plant, and equipment 2,089,200

Accounts payable 1,052,400

FLY Co. paid P4,200,000 for the net assets of BUTTER Company. It was determined that fair market values of inventories and property, plant, and equipment were P399,000 and P2,700,000, respectively. An assumed contingent liability arising from past events with a fair value amounting to P30,000 and such amount is considered a reliable measurement.

In the books of FLY Co., what is the result in goodwill?