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At the beginning of 2019 , Continental Automotive Inc. acquired Japan Parts LLC for $550 million. In addition to cash, receivables, and inventory, the following

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At the beginning of 2019 , Continental Automotive Inc. acquired Japan Parts LLC for $550 million. In addition to cash, 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 5 -year useful life, no residual value, and is amortized using the straight-line method. At the end of 2021, a current period loss and historical losses indicated to management that the assets of Japan might be impaired. The following amounts have been determined: - After first recording any impairment losses on plant and equipment and the patent. Use the following format for all answers: 1,234,567 or (1,234,567) for losses 1. What is the book value of the property plant and equipment on December 31,2021 before impairment: 1. What is the book value of the property plant and equipment on December 31,2021 before impairment? 2. What is the book value of the patent on December 31,2021 before impairment? 3. What is the frequency for impairment testing of goodwill? (monthly, quarterly or annually) 4. What is the impairment loss for plant and equipment? 5. What is the impairment loss for the patent: 6. What is the impairment loss for goodwill

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