In February 2015, Arctic Cat, Inc., acquired the assets and liabilities of MotorFist, LLC, a privately owned company based in Idaho Falls, Idaho, in exchange for $9.118 million in cash and contingent consideration. Referring to Arctic Cat's 2015 annual 10-K report, answer the following questions regarding the MotorFist acquisition.

1. Why did Arctic Cat acquire MotorFist?

2. How was the consideration transferred allocated between cash paid and the contingent consideration?

3. Provide a schedule showing Arctic Cat's allocations of the consideration transferred to the identifiable assets acquired and liabilities assumed with the remainder going to goodwill.

4. What is the maximum potential contingent payout (i.e., earnout) to the former owners of MotorFist? Although not explicitly stated in Arctic Cat's fiscal 2015 10-K report (for the year ended March 31, 2015), what may be some possible factors that entered into the determination of the acquisition-date fair value of the contingent consideration?