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IBM Corporation acquires a subsidiary for $80,000,000. The fair value of identifiable net assets acquired is $72,000,000. Calculate the goodwill recorded by IBM as a

·IBM Corporation acquires a subsidiary for $80,000,000. The fair value of identifiable net assets acquired is $72,000,000. Calculate the goodwill recorded by IBM as a result of the acquisition. Discuss the significance of goodwill in financial reporting.

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