Tokyo Company held 25% stake in Rio on 1 January 2018 for $50 million, it purchased 20% additional holding in Rio on 31 December 2019 for $30 million and 15% on 31 December 2020 for $32 million. The book value of Tokyo Companys total investment just before acquisition was $85 million and the fair value of net identifiable assets is $200 million as at acquisition date.

Required:

1. Calculate for the goodwill under step- acquisition.
2. Calculate for the fair value adjustment of investment previously held

Please answer as detailed as possible.