Use the following facts for Multiple Choice problems 15 and 16:

Assume that on January 1, 2016, the investor company issued 7,000 new shares of the investor companys common stock in exchange for all of the individually identifiable assets and liabilities of the investee company. Fair value approximates book value for all of the investees identifiable net assets. The following financial statement information is for an investor company and an investee company on January 1, 2016, prepared immediately before this transaction.

	Book Values
	Investor	Investee
Receivables & inventories	$80,000	$36,000
Land	160,000	80,000
Property & equipment	180,000	80,000
Total assets	$420,000	$196,000
Liabilities	$126,000	$63,000
Common stock ($1 par)	16,000	8,000
Additional paid-in capital	224,000	120,000
Retained earnings	54,000	5,000
Total liabilities & equity	$420,000	$196,000
Net assets	$294,000	$133,000

Asset acquisition (fair value equals book value)

If this transaction is to result in the investor recording no goodwill (or gain from negative goodwill), what is the per share fair value of the investors common stock?

Select one:

$60/share

$28/share

$42/share

$19/share