Target Inc. has 30 million shares outstanding and trades at $50 per share. Target has net identifiable assets with a book value of $1 billion and a fair value of $1.2 billion. Acquirer Corporation purchases all of Target Inc. stock for $60 per share. How much will Acquirer record as goodwill upon acquiring Target?
a. $300 million
b. $500 million
c. $600 million
d. $800 million