On 1 April 20X2, Prog Co acquired 75,000 of Seng Co's 100,000 S1 equity shares. On A Phoebi The acquisition was made through a share exchange of two shares in Prog Co for every three shares acquired in Seng Co. In addition to the share exchange, Prog Co also paid immedate cash coruderdin of $2 per share acquired On 1 April 20X2 the stock market price of Prog Co's and Seng Co's shares was $4 and $3 per share respectively. Prog Co's policy is to value non-controlling interests at fair value at acquisition. The fair value of the idenlifable nel assels of Seng Co al 1 April 20X2 was $120.000 What is the goodwill arising on the acquisition of