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Casanova Company purchased another entity for P5,000,000 cash. The following carrying amount and fair value were associated with this acquisition: Carrying amount Fair value Accounts receivable 2,000,000 2,000,000 Inventory 1,000,000 500,000 Government contact 0 1,000,000 400,000 500,000 Equipment Short-term loan payable (2,000,000) (2,000,000) 2,000,000 Net assets 1,400,000 The fair value associated with the government contract of the acquiree is not based on any legal or contractual relationship. In addition, for obvious reason, there is no open market trading for an intangible asset of this sort. What is the goodwill arising from the acquisition? a. 3,000,000 b. 3,600,000 c. 4,000,000 d. O