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The Hoover Company acquired the Burgess Company for $1,200,000 cash. The fair value of Burgess's assets was $1,040,w $60,000. How much goodwill will be recorded

The Hoover Company acquired the Burgess Company for $1,200,000 cash. The fair value of Burgess's assets was $1,040,w $60,000. How much goodwill will be recorded in connection with the acquisition? $220,000 $100,000

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