At the beginning of 2019, Metatec Inc. acquired Ellison Technology Corporation for $640 mill. In addition to cash, receivables, and inventory, the following assets and their fair values were also acquired.

Plant and Equipment (depreciable assets) $154mill

Patent 44mill

Goodwill 110mill

The plant and equipment are depreciated over a 10year 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 straight-line method.

At the end of 2021, 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 o future cash flows 84mill

Fair Value 64mill

Patent:

Undiscounted sum of future cash flows 20mill

Fair Value 13mill

Goodwill:

Fair value of ellison corporation 494mill

Fair value of ellison net assets(excluding goodwill) 430mill

Book value of ellison's ne asets (including goodwill) 510mill*

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

Required:

1. Compute the book value of the plant and equipment and patent at the end of 2021.

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