Melbourne Limited acquired 100% of the share capital of Geelong Limited. Geelong had issued share capital of $200 000. The book values of Geelong Limiteds assets were: buildings $100 000, machinery $120 000. The fair values of these assets were: buildings $180 000, machinery $140 000. The tax rate is 30%. The fair value of the identifiable net assets is: Select one: $220 000 $320 000 $200 000 $270 000