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2. Leon Corp. purchased Spinks Co. 4 years ago and at that time recorded goodwill of $480,000. The Sinks Division's net assets, including goodwill, have

2. Leon Corp. purchased Spinks Co. 4 years ago and at that time recorded goodwill of $480,000. The Sinks Division's net assets, including goodwill, have a carrying amount of $1,150,000. The fair value of the division is estimated to be $1,070,000

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