The Market Group private equity firm has purchased XYZ Company. The purchase price is $500 million for 100% of the outstanding equity of XYZ Company. At the time of the acquisition XYZ Company's equity book value was $275 million. A fair valuation was done on XYZ's fixed assets, which resulted in a fair value of $110 million compared to their book value of $75 million. A fair valuation was done on XYZ's intangible assets (trademarks and patents) which totaled $75 million. The intangible assets had zero book value on XYZ's balance sheet. How much goodwill should be recorded on the opening balance sheet for the transaction? (the answer should be in this format $xxx.x million) $115 million $115.0 115.0 $115.0 million 115 miilion 115.0 million