Use the following information to answer the next three questions. The following book and fair values were available for Northmont Company as of March 1.

	Book Value			Fair Value
Inventory	$	350,000	298,250
Land		820,500	1,085,250
Buildings		2,040,000	2,361,000
Customer relationships		0	871,500
Accounts payable		(105,000)	(105,000)
Common stock		(2,000,000)
Additional paid-in capital		(500,000)
Retained earnings, 1/1		(425,500)
Revenues		(496,000)
Expenses		316,000

Romero Company pays $3,900,000 cash and issues 21,300 shares of its $2 par value common stock (fair value of $50 per share) for all of Northmonts common stock in a merger, after which Northmont will cease to exist as a separate entity. Stock issue costs amount to $28,900 and Romero pays $48,000 for legal fees to complete the transaction.

How much goodwill should Romero record as part of this acquisition- have to use a fair value allocation schedule to answer ( show work - the right answer is 454,000)