43. Fred, Inc., and Herman Corporation formed a business combination on January 1,2012, when Fred acquired a 60 percent interest in Herman's common stock for $312,000 in cash. The book value of Herman's assets and liabilities on that day totaled $300,000 and the fair value of the noncontrolling interest was $208,000. Patents being held by Herman (with a 12-year remaining life) were undervalued by S90,000 within the company's financial records and a customer list (10-year life) worth $130,000 was also recognized as part of the acquisition-date fair value