Far Inc. Purchases 100% of Near Co. voting common stock on January 1, 2019. The purchase price includes cash of $200,000 and 5,000 shares of Far $10 par value stock valued at $25 per share. On January 1, 2019 Near Co. has a net book value of $285,000. Far attributes any excess of the purchase price over the net book value to goodwill.

On December 31, 2019 Far determines it may have an impairment issue with Near Co's goodwill. Step 1 of the goodwill impairment test reveals that Near Co's fair value is now only $295,000 and that the fair value of the identifiable net assets is $280,000.

What (If Any) is the goodwill impairment that Far Co should record? (PLEASE SHOW ALL WORK)