On April 30, 20X1, Pound Corp. acquired for cash all 200,000 shares of the outstanding common stock of Shake Corp. for $20 per share. At April 30, 20X1, Shake’s balance sheet showed net assets with a $3,000,000 book value. On that date, the fair value of Shake’s property, plant, and equipment exceeded book value by $300,000.

Required:

What amount should Pound report as goodwill on its April 30, 20X1, consolidated balance sheet?