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In 2015, First Company purchased Second Company for $16,000,000 cash. At the time of purchase...

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Accounting

In 2015, First Company purchased Second Company for $16,000,000 cash. At the time of purchase Second Company has assets with a fair value of $18,500,000 and liabilities with a fair value of $11,000,000. Calculate the amount paid for goodwill:

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