Parent purchased all the outstanding common shares of its new subsidiary $800,000 for cash. On that date, the subsidiary's assets and liabilities included $2,000,000 of inventory, land with a book value of $120,000, and $1,400,000 in liabilities. The subsidiary's book values were equal to their fair market values, except for the company's land, which was estimated to have a fair market value $50,000 higher than its book value. How much goodwill would be created by the parent's acquisition of its new subsidiary? 0 0 0 0 3. $80,000 b. $50,000 C. Nil d. $30,000