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What amount of goodwill should egbert record

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Problem 1: Dotel Company's 12/31/19 balance sheet reports assets of $9,000,000 and liabilities of $3,750,000. All of Dotel's assets' book values approximate their fair value, except for land, which has a fair value that is $900,000 greater than its book value. On 12/31/19, Egbert Corporation paid $9,150,000 to acquire Dotel. What amount of goodwill should Egbert record as a result of this purchase?

Option 1: $3,000,000
Option 2: $3,300,000
Option 3: $150,000
Option 4: $3,900,000

Reference no: EM132783990

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