Mainline Produce Corporation acquired all the outstanding common stock of Iceberg Lettuce Corporation for $32,000,000 in cash. The book values and fair values of Icebergs assets and liabilities were as follows:

Required:

Calculate the amount paid for goodwill. (Enter your answer in millions (i.e. 5,000,000 should be entered as 5).)

Book Value Fair Value Current assets Property, plant, and equipment Other assets Current liabilities Long-term liabilities 12,600,000 $ 15,600,000 31,200,000 5,200,000 8,000,000 14,000,000 25,200,000 4,200,000 8,000,000 15,000,000