Identifiable Intangibles and Goodwill, U.S. GAAP International Foods, a U.S. company, acquired two companies in 2016. As a result, its consolidated financial statements include the following acquired intangibles: Fair Value at Date of Acquisition Date of Intangible Assetquisition Useful Life Customer relationships January 1, 2016 Favorable leaseholds Brand names Goodwill June 30, 2016 June 30, 2016 January 1, 2016 $4,000,000 4years 8,000,000 5 years 18,000,000 Indefinite 500,000,000 Indefinite Goodwill was assigned to the following reporting units: Asia South America 150,000,000 Europe Total $100,000,000 250,000,000 $500,000,000 It is now December 31, 2017, the end of International Foods' accounting year. No impairment losses were reported on any intangibles in 2016. Assume that International Foods bypasses the qualitative option for impairment testing of goodwill and indefiite life intangibles