Dennis Company Purchases Miles Company for $4,200,000 Cash on January

Dennis Company purchases Miles Company for $4,200,000 cash on January 1, 2015. The book value of Miles Company's net assets reported on its December 31, 2014 financial statement was $3,800,000. An analysis indicated that the fair value of Miles's tangible assets exceeded the book value by $600,000, and the fair value of identifiable intangible assets exceeded book value by $320,000. What amount of gain or goodwill is recognized by Dennis?

A) $920,000 gain.
B) $400,000 goodwill.
C) $520,000 gain.
D) $520,000 goodwill.