On January 2, 20x1, Austin Corp. purchased 30% of the voting common stock of Gainsville Co., paying $2,600,000. Austin decided to use the equity method to account for this investment. At the time of the investment, Gainsville's total assets were $12,000,000 and liabilities were $4,000,000. Also, Gainsville reported identifiable assets and liabilities (i.e., 100%) different from its book values as follows: Book Value Fair Market Value $500,000 $400,000 100,000 130,000 Building (10-year life) Equipment (3-year life) Franchise (8-year life) Bonds payable (10-year) 40,000 100,000 120,000 After Austin's investment, Gainsville also reported income and paid cash dividends as follows: Net Income Dividends Paid $10,000 20x1 $50,000 40,000 20x2 20x3 20x4 60,000 55,000 10,000 10,000 10,000 Please compute the amount of Goodwill for Austin's investment. Select one: a. $50,000 b. Some other amount. C$10,000 d. $155,000