Wildhorse Companys 12/31/18 balance sheet reports assets of $6920000 and liabilities of $2720000. All of Wildhorses assets book values approximate their fair value, except for land, which has a fair value that is $412000 greater than its book value. On 12/31/18, Horace Wimp Corporation paid $7052000 to acquire Wildhorse. What amount of goodwill should Horace Wimp record as a result of this purchase?