On July 1, 2017, Ashtabula Corp. purchases 100% of Blasdell Company for $3.575 million. At the time of acquisition, the fair market value of Blasdells tangible net assets (excluding goodwill) is $2.99 million. Ashtabula ascribes the excess of $585,000 to goodwill. During the first half of the year, the fair value of Blasdell declines to $3.185 million and the fair value of Blasdells tangible net assets is estimated at $2.795 million as of December 31, 2017. This decline is deemed permanent. What impairment charge, if any, should Ashtabula report at December 31, 2017?

	A.	$195,000
	B.	$390,000
	C.	$585,000
	D.	$-0-
	E.	None of the above