On July 31, 2017, Sunland Company paid $2,850,000 to acquire all of the common stock of Conchita Incorporated, which became a division of Sunland. Conchita reported the following balance sheet at the time of the acquisition. Current assets $750,000 Current liabilities $560,000 Noncurrent assets 2,550,000 Long-term liabilities 460,000 Total assets $3,300,000 Stockholders equity 2,280,000 Total liabilities and stockholders equity $3,300,000 It was determined at the date of the purchase that the fair value of the identifiable net assets of Conchita was $2,500,000. Over the next 6 months of operations, the newly purchased division experienced operating losses. In addition, it now appears that it will generate substantial losses for the foreseeable future. At December 31, 2017, Conchita reports the following balance sheet information. Current assets $460,000 Noncurrent assets (including goodwill recognized in purchase) 2,180,000 Current liabilities (620,000 ) Long-term liabilities (420,000 ) Net assets $1,600,000 It is determined that the fair value of the Conchita Division is $1,850,000. The recorded amount for Conchitas net assets (excluding goodwill) is the same as fair value, except for property, plant, and equipment, which has a fair value $100,000 above the carrying value.

Assume that fair value of the Conchita Division is $1,412,000 instead of $1,850,000. Determine the impairment loss, if any, to be recorded on December 31, 2017.

The impairment loss