MSUTexas Company acquired 3 0 % of the common stock of Maroon Company for $ 7 0
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Question:
MSUTexas Company acquired of the common stock of Maroon Company for $ and will account for this acquisition as an equity method investment. Book values of Maroon's assets and liabilities were $ and $ respectively. One of Maroon's buildings with a remaining life of years had a market value that was $ more than its book value. The book value of all other assets and liabilities equaled market values.
What is the value of goodwill in this investment?
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