a value of 580.00) and a fair value of $564. the exchange il Planter issued bonds with in completing the acquisition of Sorden. E1-15 LO 1-5 Goodwill Impairment On January 1, 20XT, Porta Corporation purchased Swick Company's net assets and assigned goodwill of $80,000 to Reporting Division K The following assets and liabilities are assigned to Reporting Division K on the acquisition date: Cash Inventory Equipment Goodwill Accounts Payable Carrying Amount $ 14,000 56,000 170,000 80,000 30.000 Fair Value $ 14,000 71.000 190,000 30,000 Required On December 31, 20X3, Porta must test goodwill for impairment. Determine the amount of goodwill to be reported for Division K and the amount of goodwill impairment to be recognized, if any, if Division K's fair value is determined to be a. $340,000. b. $280,000. c. $260,000