At the beginning of $2022,$ Metatec Incorporated acquired Ellison Technology Corporation for $$610$ million. In addition to cash,

receivables, and inventory, the following assets and their fair values were also acquired:

Plant and equipment $($depreciable assets$)$

Patent

$$151$ million

Goodwill

$41$ million

$110$ million

The plant and equipment are depreciated over a $10-$year useful life on a straight$-$line basis. There is no estimated residual value. The

patent is estimated to have a five$-$year useful life, no residual value, and is amortized using the straight$-$line method.

At the end of $2024,$ a change in business climate indicated to management that the assets of Ellison might be impaired. The following

amounts have been determined:

Plant and equipment:

Undiscounted sum of future cash flows $$81$ million

Fair value

Patent:

$61$ million

Undiscounted sum of future cash flows

$$20$ million

Fair value

$13$ million

Goodwill:

Fair value of Ellison Technology Corporation

$$461$ million

Book value of Ellison's net assets $($excluding goodwill$)400$ million

Book value of Ellison's net assets $($including goodwill$)480$ million$*$

$*$After first recording any impairment losses on plant and equipment and the patent.

Required:

Compute the book value of the plant and equipment and patent at the end of $2024.$

When should the plant and equipment and the patent be tested for impairment?

When should goodwill be tested for impairment?

Determine the amount of any impairment loss to be recorded, if any, for the three assets.

Complete this question by entering your answers in the tabs below.

Determine the amount of any impairment loss to be recorded, if any, for the three assets.

Note: Enter your answers in millions rounded to $1$ decimal place. For example, $$5,500,000$ should be entered as $$5\mathrm{.}5.$