Practical Corporation acquired all of the common stock of Simple Company for $453,000 on January 1, 20X4. On that date, Simple's identifiable net assets had a fair value of $393,000. The assets acquired in the purchase of Simple are considered to be a separate reporting unit of Practical. The carrying value of the Simple reporting unit's net assets at December 31, 20X4, is $503,000. Required: Determine the amount of goodwill impairment, if any, that should be recognized at December 31, 20X4, if the fair value of the Simple reporting unit is determined to be a. $527,000. b. $491,000. c. $454,500. a. b. C. Goodwill Impairment