On January 1, Year 3. CD Corp. acquired 70 percent of the common shares of XY Inc. for $980,000. In allocating the purchase price. $120,000 was assigned to goodwill. CD did not have any goodwill recorded on its separate entity financial statements on January 1, Year 3. A goodwill impairment loss of $36.000 was recorded in Year 5. On December 31, Year 6, the recoverable amount for goodwill was determined to be $70.000. What value would be reported for goodwill on the consolidated balance sheet at December 31. Year 6? Multiple Choice O $84.000 $70,000 $59,800 $120,000