Sandhill Company's 12/31/21 balance sheet reports assets of $6960000 and liabilities of $2760000. All of Sandhills assets' book values approximate their fair value, except for land, which has a fair value that is $416000 greater than its book value. On 12/31/21. Wildhorse Corporation paid $7096000 to acquire Sandhill. What amount of goodwill should Wildhorse record as aresult of this purchase? O $136000 $0 $2480000 $2996000 Wildhorse Co. traded machinery with a book value of $535000 and a fair value of $1015000. It received in exchange from Crane Company a machine with a fair value of $913500 and cash of $101500. Crane's machine has a book value of $964250. What amount of gain should Wildhorse recognize on the exchange (assuming lack of commercial substance)? O $48000 O $-0- O $480000 0 $101500