Pawan Corporation acquires all of Sesa Company at an acquisition cost of $100,000,000 in cash. Sesa's reported assets and liabilities are as follows: Book Value Dr (Cr) Fair Value Dr (Cr) Current assets $ 5,000,000 $ 7,000,000 Land, buildings, and equipment (net) 60,000,000 80,000,000 Liabilities (40,000,000) (41,000,000) Pawan determines that Sesa has the following identifiable intangible assets, not reported on its balance sheet: Favorable leaseholds In-process research & development Advertising contracts Fair Value $ 4,000,000 10,000,000 8,000,000