The Jonas Corporation purchased all of the outstanding common stock of Bieber Corporation for $25 million in cash. The book value of Bieber’s net assets (assets minus liabilities) was $16.25 million. The fair values of all of Bieber’s assets and liabilities were equal to their book values with the following exceptions:
Book Value Fair Value
Receivables $3,000,000 $2,850,000
P,P,&E $10,200,000 $11,200,000
Intangible Assets $30,000 $3,000,000
Calculate the amount paid for Goodwill.