On July 1, ABC Co., a calendar year corporation, purchased a business for a $2 =_7187908_1&course_id=_69299_1&content_id=_1473684_1&outcome_id=_7219211_1&outcome_definition_id=_518130_1 ... Review Test Submission: ACCT 409 Exam II - 202-ACCT-409 million lump-sum price. The business' balance sheet assets had the following appraised FMV: Accounts receivable $38,900 450,000 Inventory Tangible personality 225,000 Realty: Building 500,000 Land 50,000 $ 1,263,900 1. Compute the cost basis of the goodwill acquired by ABC Co. on the purchase of this business. 2. Compute ABC Co. goodwill amortization deduction for the year of purchase. 3. Use a 21 percent tax rate to compute ABC Co. deferred tax asset/liability resulting from the amortization deduction