Alex Company issued 20,000 shares of its $5 par value common stock at a market price of $27 per share to acquire Batton Company in a statutory merger. Alex also incurred $1,000 legal fees and $300 for issuing the stock in the merger. Alex recorded $2,500 gain from bargain purchase in the business combination.What was the fair value of Batton's net identifiable assets on the date of business combination?