Park Corporation acquired the voting stock of Sequoia Company on January 1, 2020 for $25 million in cash and stock. At the date of acquisition, Sequoia's book value totaled $3 million, consisting of $1.6 million in capital stock, $1.8 million in retained earnings, and $400,000 in accumulated other comprehensive losses. Sequoia's reported net assets at the date of acquisition were carried at amounts approximating fair value, except its inventory was overvalued by $500,000 (sold in 2020), its plant assets (10-year life, straight-line) were overvalued by $3,500,000, and its long-term debt (premium amortized over 10 years, straight-line) is undervalued by $100,000. Sequoia also had previously unreported identifiable intangibles (5-year life, straight-line) valued at $5,000,000. It is now December 31, 2020. Sequoia reports net income of $1,200,000 and other comprehensive income of $50,000 for 2020 and declares and pays dividends of $200,000. None of the revaluations are impaired in 2020. Park uses the complete equity method to account for its investment. The balance for acquired identifiable intangibles on the December 31, 2020 consolidated balance sheet is:

	A.	$5,000,000
	B.	$1,000,000
	C.	$4,500,000
	D.	$4,000,000

What is the December 31, 2020 balance for Investment in Sequoia, reported on Park's books?

	A.	$25,860,000
	B.	$26,000,000
	C.	$26,060,000
	D.	$25,910,000

Eliminating entry (R) debits goodwill in the amount of:

	A.	$19,100,000
	B.	$20,900,000
	C.	$20,100,000
	D.	$21,100,000

Eliminating entry (E) credits Investment in Sequoia by:

	A.	$1,500,000
	B.	$3,300,000
	C.	$3,000,000
	D.	$3,600,000