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Bailey, Inc. acquired Hoos Company in 2019. The fair market value of Hoos Companys assets...

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Accounting

Bailey, Inc. acquired Hoos Company in 2019. The fair market value of Hoos Companys assets was $16.3 million and the fair market value of the liabilities was $4.0 million. Bailey, Inc. paid $46.2 million in cash to acquire Hoos. The amount of goodwill that should be recorded by Bailey, Inc. is:

Multiple Choice a $25.9 million. b $27.9 million. c $33.9 million.

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