Intangible Asset Date of Acquisition Fair Value at Date of Acquisition Useful Life $2,400,000 5 years 4,800,000 6years 10,800,000 Indefinite 300,000,000 ndefinite Customer relationships January 1, 2013 June 30, 2013 June 30, 2013 January 1, 2013 Favorable leaseholds Brand names Goodwill Goodwill was assigned to the following reporting units Asia South America 90,000,000 Europe Total $60,000,000 150,000,000 $300,000,000 It is now December 31, 2014, the end of International Foods' accounting year. No impairment losses were reported on any intangibles in 2013. Assume that International Foods bypasses step O of the goodwill impairment test. The following information is available on December 31,2014: Intangible Asset Customer relationships avorable leaseholds Sum of Future Expected Undiscounted Cash Flows Sum of Future Expected Discounted Cash Flows $540,000 2,640,000 4,200,000 $720,000 3,600,000 8,400,000 Brand names