On July 1, 2014. Hair Snips Corp. purchases 100% of Cut-and-Dry Company for $2.75 million. At the time of acquisition, the fair market value of Cut-and-Dry's tangible net assets (excluding goodwill) is $2.30 million. Hair Snips ascribes the excess of $450, 000 to goodwill. During the first half of the year, the fair value of Cut-and-Dry declines to $2.4S million and the fair value of Cut-and-Dry's tangible net assets is estimated at $2.15 million as of December 31.2014. This decline is deemed permanent What impairment charge, if any, should Hair Snips report at December 31.2014? Select one: $150, 000 $300, 000 $ 75.000 $0 None of the above