Corning Industries owns a patent for which it paid $77,000 At the end of the current year, accumulated amortization on the patent totaled $14,000 Due to adverse economic conditions, Corning's management determined that it should assess whether an impairment loss should be recognized for the patent The estimated undiscounted future cash flows to be provided by the patent total $45,000, and the patent's fair value is $30,000 

(a) What is the amount of the impairment loss, if any, on the patent at the end of the current year. 

(b) What is the book value of the patent after any impairment loss is recorded.