During 2014, Manning Corporation Purchased 100% of the Outstanding Voting

Multiple Choice

During 2014, Manning Corporation purchased 100% of the outstanding voting common stock shares of Brady Corporation for $4.0 million. Brady's assets had a book value of $5.0 million and fair value of $6.5 million. The book value as well as fair value of Brady's liabilities equaled $3.2 million. How much was paid for goodwill?

A) $0.
B) $2,200,000.
C) $700,000.
D) $1,000,000.