7. Twilight Corporation acquired End of the World Products on January 1, 2010 for $4,000,000, and recorded goodwill of $750,000 as a result of that purchase. At December 31, 2010, the End of the World Products Division had a fair value of $3,400,000. The net identifiable assets of the Division (excluding goodwill) had a fair value of $2,900,000 at that time. What amount of loss on impairment of goodwill should Twilight record in 2010?

a. $0

b.$250,000

c.$350,000

d.$600,000