In 2019, Alliant Corporation acquired Centerpoint Inc. for $464 million, of which $74 million was allocated to goodwill. At the end of 2021, management has provided the following information for a required goodwill impairment test:
Fair value of Centerpoint Inc. $354 million
Book value of Centerpoint net assets (excluding goodwill) 316 million
Book value of Centerpoint net assets (including goodwill) 390 million
Required:
Determine the amount of the impairment loss assuming that the fair value of Centerpoint is $428 million.
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In 2019, Alliant Corporation acquired Centerpoint Inc. for $464 million, of which $74 million was al...
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