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Question - Pharoah Corporation acquired End-of-the-World Products on January 1, 2017 for $6600000, and recorded goodwill of $1240000 as a result of that purchase. At December 31, 2018, the End-of-the-World Products Division had a fair value of $5640000. The net identifiable assets of the Division (excluding goodwill) had a fair value of $4936000 at that time. What amount of loss on impairment of goodwill should Pharoah record in 2018?
$960000
$536000
$0
$424000
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