Pearl Corporation bought Noodle Bowl Limited at the end of the fiscal year. While negotiating the purchase price, Pearl?s management team referred to the following three recent appraisals from independent valuation consultants.?

Required:?

Which of the above intangibles is likely to be recorded as a distinct identifiable asset in Pearl Corporation?s consolidated financial statement? Which is likely to be recorded as part of goodwill? Explain your reasoning.

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Appraised Value Appraisal Method Noodle Cash flow model Bowl based on brand observed $50 million royalty rates name Estimate of the replacement cost to recruit and train an Noodle Bowl equivalent workforce workforce $40 million Cash flow model of the anticipated savings from Noodle Bowl's favorable (below market) contractually guaranteed rental rates for Favorable lease retail space agreements $20 million