Requirements 1. Compute the cost of goodwill purchased by Caledon Company. 2. Journalize Caledon's purchase of Bonita Industries. 3. Explain how Caledon will account for goodwill. Assume Caledon Company paid $17 million to acquire Bonita Industries. Assume further that Bonita had the following summarized data at the time of the Caledon acquisition (amounts in millions): (Click the icon to view the data.) Bonita's current assets had a current market value of $16 million, long-term assets had a current market value of only $20 million, and liabilities had a market value of $25 million. Read the requirements. Requirement 1. Compute the cost of goodwill purchased by Caledon Company. (Enter amounts in millions.) Data table