Date of Acquisition computation and allocation of costs On January 1, 2017, Giant bought 90% of the stock of Medium. Giant paid the shareholders of Medium $ 10 million in cash, and gave them $20 million worth of stock. The fair value of the remaining 10% of the stock, which Giant did NOT acquire, was $3 million. In connection with this acquisition, Giant paid $200,000 for lawyers and accountants fees. It also paid $100,000 in connection with issuing the stock. As of the date of acquisition, the book value of Medium's stock was $20 million. The fair value of most assets and liabilities was the same as fair value. However, Medium had some land on its books for $2 million that has a fair value of $6 million, and it also has brand names with a fair value of $3 million that on its books at zero value. a. Compute the consideration transferred in this transaction Show your work. b. Compute the goodwill or gain on bargain purchase that would be recognized in this acquisition. Show your work. c. Assume that in addition to facts listed above, Giant also promised to make an additional contingent cash payment, of up to 5 million, where the amount would depend on Medium's earnings for the three years after the acquisition date. A valuation expert has said that promise has a fair value at the acquisition date of $2 million. What effect, if any would this contingent payment arrangement have on the answer you gave in part B? Explain your