** Use the following information to answer the next 5 questions ** On 1/1/20x1, Parent Company acquired 100% of the common stock of Subsidiary Company by issuing 60,000 shares of stock (par = $10 and market value = $25). At the time of business acquisition, the Parent and Subsidiary had the following information immediately before business combination and any relating costs as of 1/1/20x1. In addition, Parent also paid $20,000 to external accountants and lawyers and $10,000 for stock issuance costs. All these payments were made in cash. Parent's Sub's Sub's Book Value FMV Book Value Current Assets 700,000 Account Receivable 400,000 Inventory 900,000 Land 300,000 Building (both with 10-year remaining) 900,000 500,000 200,000 800,000 500,000 350,000 800,000 350,000 700,000 100,000 500,000 800,000 830,000 Current Liabilities 500,000 Long-term Debt (both with 6 years left) 1,000,000 Common Stock 500,000 APIC 900,000 Retained Earnings (1/1/20x1) 300,000 800,000 800,000 200,000 200,000 100,000 For all the excesses, only identifiable building and long-term debt were amortizable. Subsidiary reported a straight-line building depreciation of $10,000 a year. Subsidiary reported net income of $40,000 and declared dividends of $5,000 in 20x1. In 20x1, parent made $200,000 net income and declared $50,000 dividends. Parent also reported straight line building depreciation of $50,000 for its own building in the entire 20x1. Parent used full equity method to report the combination. What is the amount of goodwill for this business combination? Select one: a. $500,000. b. $430,000. c. $370,000. d. $870,000