West Co. acquired 90 per cent of the 100 000 shares in East Co. on 1 January 20X7 for $480 000 when the reserves of that company amounted to $320 000. On that date the fair value of the non-controlling interest was valued at $45 000. Included in East Co.'s statement of financial position was land with a book value of $60 000. The fair value was $30 000 higher than this. West Co. group measures the non-controlling interest at fair value. What goodwill arose on the acquisition of East Co