20. If there is contingent consideration in an acquisition, where the total amount paid will depend on the future earnings of the acquired company, as of the acquisition date what would be the amount of the liability, if any, shown in the consolidated financial statements?

a. Zero, since the amount is not yet known

b. The minimum that could contractually be paid

c. The fair value of the consideration, which would normally be the present value of the expected amount to be paid

d. The maximum that might contractually be paid.