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Grapefruit Inc. purchased Tangelo Inc for $1,000,000. Included in the purchase were tangible net assets with a fair value of $550,000 plus a patent valued

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Grapefruit Inc. purchased Tangelo Inc 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? 825,000 275,000 175,000 450,000

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