12. a. Fast owns 100% of Slow and had recorded $700,000 of goodwill from acquiring Slow many years ago. It is now 3 years later and the fair value of Slow is $1,300,000 and the book value of Slow excluding of goodwill is $1,100,000.

b. Assume same facts as part a. except that the fair value of Slow is $900,000 instead of $1,300,000. What is the amount of goodwill impairment, if any (use 2020 rules).