Turner Company's 12/31/08 Balance Sheet Reports Assets of $6,000,000 and Liabilities

Multiple Choice

Turner Company's 12/31/08 balance sheet reports assets of $6,000,000 and liabilities of $2,500,000.All of Turner's assets' book values approximate their fair value, except for land, which has a fair value that is $400,000 greater than its book value.On 12/31/08, Benedict Corporation paid $6,100,000 to acquire Turner.What amount of goodwill should Benedict record as a result of this purchase?

A) $ -0-
B) $ 100,000
C) $2,200,000
D) $2,600,000