Pro-tech Software acquired all of the outstanding stock of Reliable Software for $16 million. The...
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Accounting
Pro-tech Software acquired all of the outstanding stock of Reliable Software for $16 million. The book value of Reliables net assets (assets minus liabilities) was $8.5 million. The fair values of Reliables assets and liabilities equaled their book values with the exception of certain intangible assets whose fair values exceeded book values by $2.7 million. Calculate the amount paid for goodwill. (Enter your answer in whole dollars.)
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