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Jackson Browne acquires Jimmy Buffett company for $1,000,000. Jimmy Buffett company has the following assets and liabilities (measured at fair value). Cash 200,000 Accounts Payable

Jackson Browne acquires Jimmy Buffett company for $1,000,000. Jimmy Buffett company has the following assets and liabilities (measured at fair value).

Cash 200,000

Accounts Payable 75,000

Accounts Receivable 50,000

Inventory 200,000

Notes Payable 100,000

Unearned Revenue 50,000

Property, Plant and Equipment 300,000

How much Goodwill, if any, should Jackson Browne record related to the acquisition?

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