Answer:
$2,460,000
Explanation:
For computing the cost of the goodwill, first we have to calculate the fair value of the net asset which is shown below:
The fair value of net asset = The fair market value of assets + excess value of land - the fair market value of liabilities
= $6,940,000 + $414,000 - $2,740,000
= $4,614,000
And, the purchase value of Sun land is $7,074,000
So, the goodwill would be
= $7,074,000 - $4,614,000
= $2,460,000
