Wildhorse Company purchases Blossom Company for $4050000 cash on January 1, 2021. The book value of Blossom Company's net assets reported on its December 31, 2020 financial statement was $3450000. An analysis indicated that the fair value of Blossom's tangible assets exceeded the book value by $570000, and the fair value of identifiable intangible assets exceeded book value by $305000. What amount of gain or goodwill is recognized by Wildhorse? $275000 goodwill. $875000 gain. $570000 goodwill. $275000 gain