3. In 2013, Quasar Ltd. acquired all ofthe common stock of Penlight Laser for $124 million. The fair value of Penlight's identifiable tangible and intangible assets totaled $205 million, and the fair value of liabilities assumed by Quasar was S95 million Assume any difference between book value and fair value at the date ofacquisition is attributable to goddwill. Quasar performed a required goodwill impairment test at the end ofits fiscal year ended December 31, 2015-Management has promided the following infomation: Fair value of Penlight $115million Fair value of Penlight excluding goodwill 107 million Book value of Penlight including goodwill 125 million Required: 1. Determine the amount of goodwill that resulted from the Penlight acquisition. 2. Determine the amount of goodwill impairment loss that Quasar shouldrecognize at the end of 2015, if any