On january 1, beckman, inc., acquires 60 percent of the outstanding stock of calvin for $36,000. calvin co. has one recorded asset, a specialized production machine with a book value of $10,000 and no liabilities. the fair value of the machine is $50,000, and the remaining useful life is estimated to be 10 years. any remaining excess fair value is attributable to an unrecorded process trade secret with an estimated future life of 4 years. calvin’s total acquisition date fair value is $60,000.