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Book value of Penlight's net assets ( including goodwill ) 1 2 5 million Present value of Penlight's estimated future cash flows 1 1 0

Book value of Penlight's net assets (including goodwill)125 million
Present value of Penlight's estimated future cash flows 110 million
Required:
1.) Determine the amount of goodwill impairment loss in 2021.
2.) What will the goodwill balance be (after any impairment loss is recorded)?

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