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Grapefruit Inc. purchased Tangelo Inc business for $1,000,000. Included in the purchase were tangible net assets with a fair value of $550,000 plus a patent
Grapefruit Inc. purchased Tangelo Inc business for $1,000,000. Included in the purchase were tangible net assets with a fair value of $550,000 plus a patent valued at $100,000 and a copyright valued at $75,000. What, if any, is the amount of goodwill Grapefruit will record related to this purchase? O 275,000 175,000 450,000 825,000
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