Tekki, Inc. purchased all of the stock of Sandan, Inc. on January 1, 2021. Immediately after the acquisition, the two companies had the following trial balances:
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|Fixed Assets (net)|
|Investment in Subsidiary|
At the time of the purchase, the book values of Sandan’s current assets and liabilities equaled the fair market values of these items. The subsidiary’s fixed assets had a fair market value (FMV) of $400.
|What did Tekki pay to acquire the stock of Sandan?