ABC CO acquired a patent on January 1 2019 for 7,800,000 . It was expected to have a 10 - year life and no residual value ABC uses straight - line amortization for its patents On December 31 , 2019 , the expected future cash flows from the patent are 518,000 per year for the next six years . The present value of these cash flows , discounted at ABC's market interest rate , is 2.120,000 What amount any of impairment loss will be reported on ABC'S 2022 income statement ?