On November 13, Underhill, Incorporated, a calendar year taxpayer, purchased a business for a $1,023,000 lump-sum price. The business's balance sheet assets had the following appraised FMV: Accounts receivable Inventory Tangible personalty $ 55,000 224,000 600,000 $ 879,000 Required: a. What is the cost basis of the goodwill acquired by Underhill on the purchase of this business? b. Compute Underhill's goodwill amortization deduction for the year of purchase. c. Assuming a 21 percent tax rate, compute the deferred tax asset or deferred tax liability (identify which) resulting from Underhill's amortization deduction. Complete this question by entering your answers in the tabs below. Required A Required B Required C What is the cost basis of the goodwill acquired by Underhill on the purchase of this business? Goodwill's cost basis