On August 26, 2005, Medtronic, the Minneapolis-based medical technology company, bought 100% of Image-Guided Neurologics (IGN), a company that specializes in precision navigation and delivery technologies for brain surgery. The purchase price was $65.1 million. At the time of acquisition, IGNs tangible assets were valued at $3.6 million and its liabilities at $2.3 million. However, included in the acquisition were technology-based intangible assets with a useful life of 12 years that were valuedat $22.3 million. 1. Compute the amount of goodwill recognized at the time of purchase. 2. Medtronic had net earnings of $2,546.7 million in its fiscal year ending April 28, 2006 (fiscal 2006). Assume that these exclude earnings or losses from IGN. Suppose that Medtronic had identicalresults for fiscal 2007 and that IGN had a net loss for the year ending April 28, 2006, of $10 million. What consolidated net income would Medtronic report for fiscal 2007? Assume that neither Medtronic nor IGN had sales to the other. 3. How would the consolidated net income computed in number 2 change if the entire excess of the purchase price over the value of assets less liabilities had been assigned to goodwill