Huey Company acquires 100% of the stock of Solar Corporation on January 1, 2019, for $2,400,000 cash. As of that date Solar had the following account balances: Book Value Fair value Cash $630,000 775,000 Accounts receivable Inventory Building-net (10 year life) Equipment-net (5 year life) Land 350,000 1,000,000 300,000 600,000 $630,000 775,000 400,000 900,000 400,000 900,000 125,000 125,000 2,000,000 2,050,000 Accounts Payable Bonds Payable (Face amount $1,000,000, due 12/31/2023) Common stock Additional paid-in capital Retained earnings 500,000 250,000 780,000 In 2019 and 2020, Solar had net income of $250,000 and $240,000, respectively. In addition, Solar paid dividends of $16,000 in both years. Inventory is assumed to be sold in 2019. Assume straight line amortization/depreciation for assets and bonds payable. What was the amount of excess of acquisition price over book value of Solar's net assets? Select one: A. $870,000 B. $570,000 C. $1,120,000 $250.00