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On January 1 , 2 0 X 1 , HoneyDew Corporation acquires 8 0 % of the common stock of Topaz Products at fair value.

On January

1, 20

1,

HoneyDew Corporation acquires

80 %

of the common stock of Topaz Products at fair value. On this date, the fair values of Topaz's individual assets and liabilities are equal to their book values. The book value of Topaz Products' net assets is $

600, 000 .

Calculate the fair value of HoneyDew Corporation's consideration.

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