In a business combination, Major Corporation issued nonvoting, nonconvertible preferred stock with a fair value of $8 million in exchange for all of the outstanding common stock of Minor Corporation. On the acquisition date, Minor had identifiable net assets with a carrying amount of $4 million and a fair value of $5 million. In addition, Major issued preferred stock with a fair value of $800,000 to an individual as a finders fee in arranging the transaction. As a result of this transaction, Major should record an increase in net assets of Select one: a. $4,000,000 b. $5,000,000 c. $8,000,000 d. $8,800,000