On June 1, 2014, Precious Metals Corp. purchases 100% of Alberta Gold Company for $1.5 million. At the time of acquisition, the fair market value of Alberta Gold's tangible net assets (excluding goodwill) is $1.2 million. Precious Metals ascribes the excess of $300,000 to goodwill. During the first half of the year, the fair value of Alberta Gold declines to $1.2 million and the fair value of Alberta Gold's tangible net assets is estimated at $1.1 million as of December 31, 2014. This decline is deemed permanent. What impairment charge, if any, should Precious Metals report at December 31, 2014. a. $0 b. $100,000 c. $200,000 d. $300,000 e. none of the above