On January 1, 2015, John Doe Enterprises JDE acquired a 55 interest in Bubba Manfacturing, Inc. (BMI). JDE paid for the transaction with $3 million in cash and 500,000 shares of JDE common stock. On January 1, JDE stock had a market value of 14.90 per share. At the time of the acquisition, BMI's total fqair value including the noncontrolling interest was $19,000,000 although the book value was only $16,970,000. Any consideration transferred over book value is assigned to goodwill. (JDE good will should be S484,000 and NCI goodwill $396,000) BMI had the following balances on January 1, 2015. Book Value Fair Value Land 1,700,000 2,550,000 Building (7 year remaining life) 2,700,000 3,400,000 Equipment (5 yr. remaining life) 3,700,000 3,300,000