Lake incorporated purchased all of the outstanding stock of huron company, paying $1,060,000 cash. lake assumed all of the liabilities. book values and fair values of acquired assets and liabilities were: book value fair value current assets (net) $ 185,000 $ 185,000 property, plant, equip. (net) 615,000 835,000 liabilities 180,000 180,000 lake would record goodwill of:

Overspeculation and a decrease in consumer confidence are both leading factors of: ?

Awidower devised his fee simple interest in his residence as follows: “to my daughter for life, then to my oldest grandchild who survives her.” at the time of the widower’s death, he was survived by his only two children, a son and a daughter, and by one grandchild, his daughter’s son. a short time later, the daughter together with her son entered into a contract to sell the residence in fee simple to a buyer. the applicable jurisdiction continues to follow the common law rule against perpetuities, but has abrogated the rule in shelley’s case. at the closing, the buyer refused to purchase the residence. can the sellers compel the buyer to do so?

Gulliver travel agencies thinks interest rates in europe are low. the firm borrows euros at 5 percent for one year. during this time period the dollar falls 11 percent against the euro. what is the effective interest rate on the loan for one year? (consider the 11 percent fall in the value of the dollar as well as the interest payment.)