Lacy Corporation paid \(\$ 550,000\) to acquire Gentsch, Inc. Gentsch's assets had a market value of \(\$ 900,000\), and its liabilities were \(\$ 400,000\). In recording the acquisition, Lacy will record goodwill of (p. 427)

a. \(\$ 50,000\)

b. \(\$ 100,000\)

c. \(\$ 550,000\)

d. \(\$ 0\)