Events and circumstances indicate the need for Lenny Schaeffer Bakeries to undertake quantitative testing of goodwill. The current carrying value of the reported goodwill for the reporting unit is $ 800,000. The goodwill pertains to the reporting unit. The book value of the net assets of the reporting unit, excluding goodwill, is equal to $ 1,200,000. The fair value of the reporting unit including goodwill is $ 2,200,000. Determine if Schaeffer’s goodwill is impaired.