A nаtiоnаl fооd distributor hаs offered to purchase P Corp. P Corp has $0.9 million of net assets at book value, but those net assets have a fair value of $1.2 million. If the distributor offers to buy P Corp. for $3.5 million, how much will be recorded as goodwill based on the offered acquisition price? (Note: please do not include commas or dollar signs in your response)