• ABC purchased a trademark on Jan 1, 2016 for $893565 with an indefinite useful life
• On Dec 31, 2020 changes in the marketplace indicate that it may be more likely than not that the trademark is impaired
• On Dec 31, 2020 the fair value of the trademark is estimated to be $863193

On Dec 31, 2020 the trademark should be on the books at:

** Please show step by step how to solve this problem. Thank you!**