Dow Corporation has assembled the following information for one of its divisions on December 31, 2020.

	Fair Value	Book Value
Total identifiable assets (exclusive of goodwill)		$720,000
Goodwill		60,000
Liabilities		300,000
Fair value of the division.	$465,000

a. Determine the impairment loss (if any) for the Dow Corporation division.

Note: Do not use a negative sign with your answer.

$Answer

b. How would your answer change if the fair value of total identifiable assets (exclusive of goodwill) were $495,000 instead?

$Answer