Fresh Cut Corporation purchased all the outstanding common stock of Premium Meats for $11,100,000 in cash. The book values and fair values of Premium Meats' assets and liabilities were as follows: Accounts Receivable: Equipment Patents Notes Payable Net assets Book Value $1,350,000 8,050,000 210,000 (1,800,000) Fair Value $1,150,000 9,450,000 1,250,000 (1,800,000) $ 7,810,000 $ 10,050,000 Required: 1. Calculate the amount Fresh Cut should report for goodwill. 2. Record Fresh Cut's acquisition of Premium Meats Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate the amount Fresh Cut should report for goodwill. (Enter your answer in millions rounded to 2 decimal places (le $5,500,000 should be entered as 5.50).)