David Company has one purchased trademark with a book value of $490000, recorded on its books as of jan 1, 2015. David plans to continue to renew this trademark every 10 years and expects the trademark to result in $20,000 of net cash flows each year for the forseeable future. During 2015, david incurred $70000 of legal expenses to successfully defend this trademark. At the end of the year, David determined that the trademark had a fair value of $530000. What amount (if any) of impairment loss should be reported on the 2015 income statement.