Computing Goodwill GoldStar Inc. acquired all assets and assumed all liabilities of Silver Company at a cash purchase price of $980,000. The carrying value of the assets acquired was $1,300,000 and the carrying value of the liabilities acquired was $500,000. GoldStar Inc. estimated that assets were undervalued by $100,000 due to unrecorded intangibles of $75,000 (fair value) and undervalued land and equipment of $25,000 (as compared to fair value). Determine the amount of goodwill recorded by Silver Company upon purchase of GoldStar Inc.