Power Inc Acquires All the Voting Stock of Signal Company for for $30,000,000

Power Inc. acquires all the voting stock of Signal Company for $30,000,000 in cash. At the date of acquisition, Signal's balance sheet is as follows:
$$\begin{array} { | l | c | c | } \hline & \begin{array} { c } \text { Book Value } \\\text { Dr (Cr) }\end{array} & \begin{array} { c } \text { Fair Value } \\\text { Dr (Cr) }\end{array} \\\hline \text { Tangible assets } & \$ 15,000,000 & \$ 14,000,000 \\\hline \text { Goodwill } & 5,000,000 & 7,000,000 \\\hline \text { Liabilities } & \{ 12,000,000 \} & \{ 12,000,000 \} \\\hline \text { Equity } & \{ 8,000,000 \} & \\\hline\end{array}$$ What amount of consolidated goodwill is recognized for this acquisition in eliminating entry (R) at the date of acquisition?

A) $7,000,000
B) $12,000,000
C) $23,000,000
D) $28,000,000