1. Topic: Valuation of goodwill at acquisition, U.S. GAAP LO 1 Bishop Company pays $100,000,000 for 80 percent of the voting stock of Callay Corporation. The fair value of the noncontrolling interest at the date of acquisition is $20,000,000, and Callay's book value is $15,000,000. Callay's assets and liabilities are reported at amounts approximating fair value, but it has previously unreported favorable leases with a fair value of $4,000,000. Following U.S. GAAP, what is the total goodwill for this acquisition? a. $84,800,000 b. $81,000,000 c. $116,000,000 d. $101,000,000 2. Topic: Valuation of goodwill at acquisition, IFRS LO 4 Use the same information as in question 1, but assume Bishop uses IFRS and the alternative method for valuing goodwill when there is a noncontrolling interest. Following IFRS, what is the total goodwill for this acquisition