Lake incorporated purchased all of the outstanding stock of huron company, paying $1,060,000 cash. lake assumed all of the liabilities. book values and fair values of acquired assets and liabilities were: book value fair value current assets (net) $ 185,000 $ 185,000 property, plant, equip. (net) 615,000 835,000 liabilities 180,000 180,000 lake would record goodwill of:

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