Alpha Corporation, a leading conglomerate, is assessing the carrying value of its goodwill for potential impairment. Following a recent economic downturn, Alpha Corporation identifies indications of impairment in one of its reporting units, which carries goodwill of $10,000,000.

Conduct the impairment test for the reporting unit. The fair value of the reporting unit's net assets excluding goodwill is $30,000,000. If the estimated fair value of the reporting unit is $25,000,000, determine whether an impairment loss needs to be recognized for goodwill. If impairment is indicated, calculate the amount of impairment loss to be recorded and explain the impact on Alpha Corporation's financial statements.