On May 31, 2015, Walker Company (a US company) paid US$4,000,000 to acquire all of the common stock of Hayden Corporation (an Australian company), which now became a division of Walker. Hayden reported the following US$ balance sheet at the time of the acquisition:

Book Value $ Fair Value $

Current Assets 900,000 1,500,000

Noncurrent Assets 2,700,000 2,300,000

Current liabilities (600,000) (700,000)

Long-term liabilities (500,000) (400,000)

At December 31, 2015, Hayden reports the following US$ balance sheet information:

Book Value $ Fair Value $

Current Assets 800,000 400,000

Noncurrent Assets (Excluding Goodwill) 1,500 000 1,100,000

Current liabilities (700,000) (700,000)

Long-term liabilities (500,000) (400,000)

During the annual impairment test conducted on December 31, 2015, it was determined that the fair value of the Hayden division as a whole would be equal to the present value (using a discount rate of 10%) of the following estimated future cash follows:

December 31, 2016 December 31, 2017 December 31, 2018 December 31, 2019 December 31, 2020

$265,000 $265,000 $265,000 $265,000 $265,000

On the assumption that the fair value of Hayden on December 31, 2015 was $1,700,000 (instead of using present values), determine the goodwill impairment loss, if any, to be recorded.

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