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Camilla Corporation acquired all outstanding shares of Connor Ltd. for $2.5 million. Selected information relating to Connor was as follows: Fair value of identifiable assets:
Camilla Corporation acquired all outstanding shares of Connor Ltd. for $2.5 million. Selected information relating to Connor was as follows: Fair value of identifiable assets: $ 10 million Book value of identifiable assets: $ 8 million Fair value of identifiable Liabilities: $ 9 million Book value of identifiable Liabilities: $ 7.5 million Camilla will recognize goodwill of $ 1,500,000 $ 1,000,000. $ 500,000. $ 2,000,000
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