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7. In 2018 , Salamander Co. acquired a competitor, Newt Co. for $3,000,000 in cash. The fair value of Newt Co.'s assets was $2,600,000 and

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7. In 2018 , Salamander Co. acquired a competitor, Newt Co. for $3,000,000 in cash. The fair value of Newt Co.'s assets was $2,600,000 and the fair value of Newt Co.'s liabilities was $1,000,000. How much would Salamander Co. recognize in goodwill for this acquisition

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