7. Dolan Inc. acquired 100% of the voting common stock of Smith Inc. on January 1, 2018. The book value and fair value of Smith's accounts on that date (prior to creating the combination) are as follows, along with the book value of Dolan's accounts: Smith Fair Value Retained earnings, 1/1/20 Cash and receivables Inventory Land Buildings (net) Equipment (net) Liabilities Common stock Additional paid-in capital Dolan Book Value $250,000 170,000 230,000 280,000 480,000 120,000 650,000 360,000 20,000 Smith Book Value $240,000 70,000 170,000 220,000 240,000 90,000 430,000 80,000 40,000 $70,000 210,000 240,000 270,000 90,000 420,000 Assume that Dolan issued 12,000 shares of common stock, with a $5 par value and a $47 fair value, to obtain all of Smith's outstanding stock. In this acquisition transaction, how much goodwill should be recognized? A. $104,000. B. $144,000. C. $ 64,000. D. $ 60,000