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Cheese Inc. paid $1 million for 100% of the voting stock of Mouse Corp. Mouse had total assets on that date with a book value
Cheese Inc. paid $1 million for 100% of the voting stock of Mouse Corp. Mouse had total assets on that date with a book value of $1.8 million and total liabilities with a book value of $1.0 million. The fair values of Mouse's assets and liabilities on that date were $2.2 million and $1.3 million, respectively. How much goodwill should Cheese recognize as a result of this acquisition? 23:31
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