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In 2014, Alliant Corporation acquired Centerpoint Inc. for $412 million, of which $62 million was allocated to goodwill. At the end of 2016, management has provided the following information for a required goodwill impairment test:
Fair value of Centerpoint, Inc.
$
318
million
Fair value of Centerpoint’s net assets (excluding goodwill)
288
Book value of Centerpoint’s net assets (including goodwill)
350
Required:
1. Determine the amount of the impairment loss. (Enter your answer in millions (i.e., 10,000,000 should be entered as 10).)
2. Determine the amount of the impairment loss assuming that the fair value of Centerpoint is $380 million. (Enter your answer in millions (i.e., 10,000,000 should be entered as 10).)
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