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Mainline Produce Corporation acquired all the outstanding common stock of Iceberg Lettuce Corporation for S32,000,000 in cash. The book values and fair values of Iceberg's
Mainline Produce Corporation acquired all the outstanding common stock of Iceberg Lettuce Corporation for S32,000,000 in cash. The book values and fair values of Iceberg's assets and liabilities were as follows Fair Value Current assets Property, plant, and equipment Other assets Current liabilities Long-term liabilities 12,000,000 15,000,000 27,400,000 600,000 8,000,000 13,000,000 21.400,000 ,600,000 8,000,000 14,000,000 Required: Calculate the amount paid for goodwill. (Enter your answer in millions (i.e. 5,000,000 should be entered as 5).) million
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