Bloom Radio purchased a broadcast license for $$1,450,000.$ The license is renewable every $10$ years if the company provides appropriate service and does not violate FCC rules. Bloom Radio has renewed the license with the FCC twice, at a minimal cost. Because the company expects cash flows to last indefinitely, Bloom Radio reports the license as an indefinite$-$life intangible asset. Recently, the FCC decided to auction significantly more of these licenses. As a result, Bloom Radio expects reduced cash flows for the remaining $2$ years of its existing license. Using the fair value test, Bloom Radio determines that the fair value of the intangible asset is $$980,000.$ What is the amount of the impairment? $$ $$0$

$$ $$470,000$

$$ $$325,000$

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