Below are the extract information on net asset of Cottonwood Berhad as of December 31, 2020: Cash RM 350,000 Receivables 600,000 Investment 1,500,000 Property, plant and equipment 1,300,000 Goodwill 1,000,000 Less: Notes Payables (700,000) Account Payables (350.000) Net assets 3.700.000 Management estimated its future net cash flows from the division to be RM980,000. Management has also received an offer to purchase the division for RM3,500,000. All identifiable assets' and liabilities' book and fair value amounts are the same. REQUIRED: i. Calculate the fair value of the Goodwill. (6 marks) ii. Determine if impairment occurred. (4 marks) iii. Prepare the journal entry to record the impairment of the Goodwill. (4 marks)