Hoyt Corporation agreed to the following terms in order to acquire the net assets of Brown Company on January 1, 2018:(1.) To issue 400 shares of common stock ($10 par) with a fair value of $45 per share.(2.) To assume Brown's liabilities which have a book value of $1,600 and a fair value of $1,500.On the date of acquisition, the consideration transferred for Hoyt's acquisition of Brown would be:
A. $20,000.
B. $16,500.
C. $18,000.
D. $18,500.
E. $19,500.
Answer: E
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