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On December 31, 2020, Monty Corporation paid $5556500 to acquire Pronghorn Company and recorded $1636500 of goodwill as a result of the purchase. On

 

On December 31, 2020, Monty Corporation paid $5556500 to acquire Pronghorn Company and recorded $1636500 of goodwill as a result of the purchase. On December 31, 2022, Monty determines that the fair value of the Pronghorn division is $6506500 and the carrying amount of Pronghorn's net assets on that date is $6206500 (the carrying value and the fair value of identifiable net assets are the same). What amount of loss on impairment of goodwill should Monty record at December 31, 2022?

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