Assume that on January 2, 2016, the copyrighted item was impaired in its ability to continue to produce strong revenues. The other intangible assets were not affected. Star estimated that the copyright would be able to produce future cash flows of $17,000. The fair value of the copyright was determined to be $16,000. Compute the amount, if any, of the impairment loss to be recorded. If an impairment is recognized, record the impairment in a journal entry.