Events and circumstances indicate the need for Schwab Schaeffer Bakeries to undertake quantitative testing of goodwill. The current carrying value of the reported goodwill for the reporting unit is $800,300. The goodwill pertains to the reporting unit. The book value of the net assets of the reporting unit, excluding goodwill, is equal to $1,208,000. The fair value of the reporting unit including goodwill is $2,208,000. Determine whether Schaeffer's goodwill is impaired.