At the beginning of $2022,$ Metatec Incorporated acquired Ellison Technology Corporation for $$540$ million. In addition to cash, 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.

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

Required $2$

Required $3$

When should goodwill be tested for impairment? 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.

Required $4$

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.$

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

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:

$*$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.

Required $1$

Required $3$

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

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