Computing Goodwill Impairment Freeman Co. acquired another business and paid (among other amounts) $57,600 for its goodwill in 2018. On December 31, 2020, the net book value of the business is $704,000 and the fair value of the business is $712,000. Determine the amount of goodwill impairment (if any) on December 31, 2020. Assume no impairment losses were recognized on goodwill in prior periods.

Goodwill impairment Answer

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