In a goal to expand their user base, social media giant OneWorld acquired a small start-up company MyLife for $51,900,000 cash. An appraiser assessed the fair market value of the tangible assets of MyLife at $25,190,000 at the date of acquisition. The deal stipulated that OneWorld will not assume any responsibility for the liabilities of MyLife. A decade later, much of the data provided to OneWorld through the acquisition has also been acquired by their competitors. An appraiser determined that the current fair value of the goodwill to be $5,190,000.

Required: Determine the amount of goodwill OneWorld should recognize at the date of acquisition. Should OneWorld recognize an impairment loss related to the change in value? If so,