Perch Co. acquired 80% of the common stock of Float Corp. for $1,600,000. The fair market value of Float's net assets was $1,850,000, and the book value was $1,500,000. What amount of Goodwill should have been recognized according to the Economic Unit Concept?

Perch Co. acquired 80% of the common stock of Float Corp. for $1,600,000. The fair market value of Float's net assets was $1,850,000, and the book value was $1,500,000. What amount of Goodwill should have been recognized according to the Economic Unit Concept?

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Perch Co. acquired 80% of the common stock of Float Corp. for $1,600,000. The fair value of Float's net
assets was $1,850,000, and the book value was $1,500,000. The noncontrolling interest shares of Float
Corp. are not actively traded.