Harry Ltd acquired 80% of the ordinary shares of Tottenham Ltd on March 20x0. It issued 80,000 of its own $1 ordinary shares (nominal value) to the shareholders of Tottenham Ltd. At that date the net assets of Tottenham were $160,000. The market value of each share in Harry PIc is $2.50. Under the proprietary concept, a. It is True that Goodwill has been valued at $48,000. b. It is False that Goodwill has been valued at $48,000.