Tinyton Company acquired 70% of Lauderdale Corporation for $3,300,000.The total fair value of Lauderdale' identifiable net assets was $3,650,000.The book value of Lauderdale' land and equipment were undervalued by $100,000.The equipment had a ten-year useful life.The book value of Lauderdale' other assets and liabilities were equal to fair value.

Required: Determine the amount of goodwill associated with Tinyton Company's purchase of Lauderdale Corporation.