Chadwick Enterprises, Incorporated, operates several restaurants throughout the Midwest. Three of its restaurants located in the

center of a large urban area have experienced declining profits due to declining population. The company's management has decided

to test the assets of the restaurants for possible impairment. The relevant information for these assets is presented below at the end of

Book value

Estimated undiscounted sum of future cash flows

Fair value

Required:

Determine the amount of the impairment loss, if any, reported in the $2024$ income statement.

Determine the reported book value of the assets in the year$-$end $2024$ balance sheet.

Determine the amount of the impairment loss assuming that the estimated undiscounted sum of future cash flows is $$10\mathrm{.}8$ million

and fair value is $$7\mathrm{.}0$ million.

Note: Enter your answers in millions rounded to $1$ decimal place, $($i$.$e$.,5,500,000$ should be entered as $5\mathrm{.}5).$