At the beginning of fiscal 2017, Wooster Company acquired a small savings and loan association for $102 million. The book value of the assets of the acquired company were $261 million, its liabilities $172.5 million. An appraiser determined that the acquiree's land had a fair value of $3 million in excess of its net book value. Wooster also determined that the acquiree had an unrecorded liability of $6.75 million relating to a lawsuit. The book value of all other assets and liabilities approximated fair value.
What did Wooster Company record as goodwill for this acquisition?

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The Answer of At the beginning of fiscal 2017, Wooster Company acquired a small savings and loan association for $102 million. The book value of the assets of the acquired company were $261 million, its liabilities $172.5 million. An appraiser determined that the acquiree's land had a fair value of $3 million in excess of its net book value. Wooster also determined that the acquiree had an unrecorded liability of $6.75 million relating to a lawsuit. The book value of all other assets and liabilities approximated fair value.
What did Wooster Company record as goodwill for this acquisition?

At the Beginning of Fiscal 2017, Wooster Company Acquired a Small