The assets and liabilities of Bosley Ltd on 1 July 2020 are as follows: Assets Accounts Receivable Building Land Liabilities Loan Book Value $ 20000 50000 80000 29800 Fair Value $ 5000 45000 90000 29800 On 1 July 2020, Townsend Ltd agrees to pay the following items of consideration to Bosley Ltd in exchange for acquiring all its assets and assuming all its liabilities: $30,000 in cash, half of which is paid on the acquisition date, the other half to be paid on 1 July 2021; 40,000 newly-issued ordinary shares in Townsend Ltd at the face value of $1.00 per share. These shares are trading at $1.56 per share on the acquisition date. A patent which is not recorded in the acquirer's balance sheet but has a current market value of $18,000. Townsend Ltd's marginal cost of capital is 8% per annum. The company tax rate is 30%.