Exercise 6-22 Ivanhoe Company owns a trade name that was purchased in an acquisition of McClellan Company. The trade name has a book value of $3,500,000, but according to GAAP, it is assessed for impairment on an annual basis. To perform this impairment test, Ivanhoe must estimate the fair value of the trade name. It has developed the following cash flow estimates related to the trade name based on internal information. Each cash flow estimate reflects Ivanhoe's estimate of annual cash flows over the next 10 years. The trade name is assumed to have no salvage value after the 10 years. (Assume the cash flows occur at the end of each year.) Probability Estimate $383,800 641,400 753,700 2096 50% 30% Click here to view factor tables (a) what is the estimated fair value of the trade name? Ivanhoe determines that the appropriate discount rate for this estimation is 10%. (Round factor values to 5 decimal places, eg. 1.25124 and final answer to decimal places, e.g. 458,581.) Estimated fair value Click if you would like to Show Work for this question: Open Show Work