Banduka obtained a 60% holding in the 100,000 N$1 shares of Mist on 1 January 2018, when the retained earnings of Mist were N$850,000. Consideration comprised N$250,000 cash, N$400,000 payable on 1 January 2019 and one share in Banduka for each two shares acquired. Banduka has a cost of capital of 8% and the market value of its shares on 1 January 2018 was N$2.30. Banduka measures non-controlling interest at fair value. The fair value of the non-controlling interest at 1 January 2018 was estimated to be N$400,000. What was the goodwill arising on acquisition? a. N$169,000 b. N$139,370 c. N$130,370 d. N$119,370