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QUESTION 27 France Company purchases Holland Company for $3,200,000 cash on January 1, 2018. The book value of Holland Company's net assets. as reflected on

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QUESTION 27 France Company purchases Holland Company for $3,200,000 cash on January 1, 2018. The book value of Holland Company's net assets. as reflected on its December 31, 2017 balance sheet is $2.480,000. An analysis by France on December 31, 2017 indicates that the fair value of Holland's tangible assets exceeded the book value by $240,000, and the fair value of Identifiable intangible assets exceeded book value by $190,000. How much goodwill should be recognized by France Company when recording the purchase of Holland Company

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