Pace Corporation acquired 100 percent of Spin Company's common stock on January 1, 20X9. Balance sheet data for the two companies immediately following the acquisition follow: PACE Cash $30,000, Accounts receivable $80,000, Inventory $150,000, Land $65,000, Buildings and Equipment $260,000 (less accumulated depreciation of $120,000, Investment in Spin Company $150,000, Accounts Payable $45,000, Taxes payable $20,000, Bonds Payable $200,000, Common stock $50,000, Retained earnings $300,000. SPIN: Cash $25,000, Accounts Receivable $40,000, Inventory, $55,000, Land $40,000, Buildings and equipment $160,000 (less accumulated depreciation $50,000, Accounts Payable $33,000, Taxes payable $8,000, Bonds payable $100,000, Common Stock $20,000, Retained earnings $109,000. At the date of the business combination, the book values of Spin's net assets and liabilities approximated fair value except for inventory, which had a fair value of $60,000, and land, which had a fair value of $50,000. The fair value of land for Pace Corporation was estimated at $80,000 immediately prior to the acquisition. Based on the preceding information, what amount of goodwill will be reported in the consolidated balance sheet prepared immediately after the business combination?

		$0
		$21,000
		$6,000
		$15,000