Corporation B purchased 100 percent of the shares of Corporation Z and paid $ 1,200,000 more than the fair value of the net assets of the acquired corporation. Which of the following statements is correct?

Goodwill is amortized and expensed for 40 years

Goodwill is expensed immediately

Goodwill must be periodically evaluated to determine if there is impairment

It is not recognized in the books