On January 1, Coldwater Company has a net book value of $1,960,000 as follows: 1,500 shares of preferred stock; par value $100 per share; cumulative, nonparticipating, nonvoting; call value $108 per share 30, 500 shares of common stock; par value $40 per share Retained earnings Total $ 150, 000 1, 220, 000 590, 000 $ 1,960, 000 Westmont Company acquires all outstanding preferred shares for $159,800 and 60 percent of the common stock for $1,153,800. The acquisition-date fair value of the noncontrolling interest in Coldwater's common stock was $769,200. Westmont believed that one of Coldwater's buildings, with a 12-year remaining life, was undervalued by $68,000 on the company's financial records. What amount of consolidated goodwill would be recognized from this acquisition?

On January 1, Coldwater Company has a net book value of $1,960,000 as follows: Westmont Company acquires all outstanding preferred shares for $159.800 and 60 peicent of the common stock for $1.153.800. The acquisition-date fair value of the noncontrolling interest in Coldwater's common stock was 5769,200 . Westmont believed that one of Coldwater's bulidings, with a 12-year remaining life, was undervalued by $68,000 on the compamy's financial records. What amount of consolidated goodwill would be recognized from this acquisition? Multiple Choice $50,000 $48,800 $54,800 $51,200