9. Malrom Manufacturing Company acquired a patent on a manufacturing process on January 1, 2020 for $5,000,000. It was expected to have a 10 year life and no residual value. Malrom uses straight-line amortization for patents. On December 31, 2021, the future cash flows expected from the patent were $400,000 per year for the next eight years. The present value of these cash flows, discounted at Malrom's market interest rate, is $2,400,000. What amount of loss on impairment of patent should Malrom Manufacturing Company record in 2021?