At the beginning of 2022, Metatec Incorporated acquired Ellison Technology Corporation for $640 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. 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 follo amounts have been determined: "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 2024 . 2. When should the plant and equipment and the patent be tested for impairment? 3. When should goodwill be tested for impairment? 4. Determine the amount of any impairment loss to be recorded, if any, for the three assets. 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 2024 . 2. When should the plant and equipment and the patent be tested for impairment? 3. When should goodwill be tested for impairment? 4. Determine the amount any impairment loss to be recorded, if any the three assets. Answer is complete but not entirely correct. 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