IBS eceivables. and inventory, the following assets and their fair values were also acquired: Plant and equipment (dopraciabla assets) 5 141 million Eatont . Bl million ' . Goodwill \" 1107 million mounts have been determined: Plant and equipment: Undiscountod sum of future cash flows Poi: value Patent: Undiscountod sum of future cash flows Pair value $ 71 million 51 million $ 19 million 12 million Goodwill: Pair value of Ellison Technology Corporation 5 351 million Book value of Ellison's net assets (excluding goodwill) 300 million Book value of Ellison's net assets (including goodwill) 380 million't After rst recording any impairment losses on plant and equipment and the patent. equired: 1. Compute the book value of the plant and equipment and patent at the end of 2024. 2. When should the plant and equipment and the patent be tested for Impairment? 3. When should goodwill be tested for impairment? 4. Determine the amount of any impairment loss to be recorded, it any. for the three assets. t the beginning of 2022. Metatec incorporated acquired Ellison Technology Corporation for $510 million. In addition to cash, ' a i ' he plant and equipment are depreciated over a 'lOyear useful life on a straight-line basis. There is no estimated residual value; The. ' atent is estimated to have a ve-year useful life. no residual value, and is amortized using the straight-line method. 7 tthe end of 2024, a change in business climate indicated to management that the assets of Ellison might be impaired. The following? ' ' _