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Estimate goodwill for this transaction

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Reference no: EM132765073

Question - Hernandez Company is contemplating the acquisition of Murphy Company.

Hernandez determines that the fair market value of Murphy's identifiable net assets (total assets less total liabilities) is $2,318,300.

For this specific industry, 19% is considered a normal rate of return on net assets. Murphy's earnings for the past few years have averaged $642,200.

Required - Estimate goodwill for this transaction using the capitalization of excess earnings method.

Reference no: EM132765073

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