What amount should cupidity report as goodwill

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On April 30, 2017, Cupidity Corp. purchased for cash all 200,000 shares of the outstanding common stock of Venality Corp. for $20 per share. At April 30, 2017, Venality B/S showed net assets with a book value of $3,000,000. On that date, FMV of Venality's PPE exceeded book value by $300,000. What amount should Cupidity report as goodwill?

Reference no: EM132420372

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