On January 1, 20X1, Porta Corporation purchased Swick Company's net assets and assigned goodwill of $80,800 to Reporting Divislon K. The following assets and Ilabilltiles are assigned to Reporting Division K on the acquisition date: Required: On December 31, 20X3, Porta must test goodwill for Impalrment. Assume that the carrying value of the goodwll has not changed since 20X1. Determine the amount of goodwill to be reported for Division K and the amount of goodwill Impalrment to be recognized, if any. If Division K's falr value is determined to be a. $348,000. b. $288,000. c. $268,000