Collison and Ryder Company (C&R) has been experiencing declining market conditions for its sportswear division. Management decided to test the assets of the division for possible impairment. The test revealed the following: book value of divisions assets, $20 million; fair value of divisions assets, $19.2 million; sum of estimated future cash flows generated from the divisions assets, $16.9 million.

Required: 1. Determine the amount of the impairment loss, if any. 2. Repeat required 1 assuming that the estimated undiscounted sum of future cash flows is $20.8 million and fair value is $18 million.