Green Prairie Company acquired 100% of the voting stock of the AutoWorld Group on January 1 of the current year for a total acquisition cost of $264.000. The trial balance of AutoWorld on the date of acquisition is presented below. On December 31 (one year after the acquisition), Green Prairie's management conducted its annual impairment test for goodwill Management has also assessed recent events and determined that it should review its plant and equipment and finite-life intangible assets for possible impairment. Requirement a. Compute the amount of goodwill to be recorded on the date of acquisition. Management determines AutoWorld be the reporting unit, which is also the cash-gene to rating unit. Management estimated that the fair value of the unit with goodwill one year after the acquisition was $295,000; its value in use was $305,000, and the costs to sell were $21,000. The net assets of the unit, excluding goodwill, were appraised at $288,000 Assume at depreciation is $4, 700, annual amortization for the customer list is $900, and the at annual amortization for the other intangible assets is $3, 700. Green Prairie uses separate accounts for accumulated depreciation an accumulated amortization. Treat the customer list as a finite-life intangible asset. Management is unable to determine fair value for the reporting units assets, but it estimates the following future cash flows for each of the unit's assets, with the exception of goodwill. Assume that Green Prairie's cost of capital is 4%