Use the Following Information to Answer Bellow Questions :
Precision

Use the following information to answer bellow Questions :
Precision Company acquires all of Springfield Company's voting stock for $5,000,000 in cash. Information on Springfield's assets and liabilities at the date of acquisition is as follows:
$$\begin{array} { | l | c | c | } \hline & \begin{array} { c } \text { Book Value } \\\text { Dr (Cr) }\end{array} & \begin{array} { c } \text { Fair Value } \\\text { Dr (Cr) }\end{array} \\\hline \text { Current assets } & \$ 500,000 & \$ 700,000 \\\hline \text { Land, buildings and equipment } \{ \text { net } \} & 2,000,000 & 3,500,000 \\\hline \text { Liabilities } & \{ 600,000 \} & \{ 550,000 \} \\\hline \text { Capital stock } & \{ 500,000 \} & \\\hline \text { Retained earnings } & \{ 1,400,000 \} & \\\hline\end{array}$$ In addition, Springfield Company has unrecorded identifiable intangible assets, in the form of brand names and lease agreements, with a total estimated fair value of $400,000.
-In eliminating entry (R) on the consolidation working paper, the debit to identifiable intangibles is:

A) $0
B) $400,000
C) $350,000
D) $250,000