Mercury Corporation acquired 100 percent of the stock of Jup…

Questions

Mercury Cоrpоrаtiоn аcquired 100 percent of the stock of Jupiter Compаny when the book value of Jupiter's net assets was $250,000. The fair value of Jupiter's net assets was $280,000 on the acquisition date.   Based on the preceding information, what amount of goodwill will be reported in consolidated financial statements presented immediately following the combination if Mercury paid $295,000 for the acquisition?  

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