The abrasives group of Chemical Products Inc. (CPI) has been suffering a decline in its business, due to new product introductions by competitors. At 31 December 20X5, the assets of the abrasives cash-generating unit are shown as follows (in millions) on the companys SFP: Cost Accumulated Depreciation Net Book Value Equipment (10-year life) $ 600 $ 300 $ 300 Fixtures (10-year life) 250 60 190 Patent rights (40-year life) 160 80 80 $ 1,010 $ 440 $ 570 An impairment test indicates that the recoverable amount of the abrasives cash-generating units assets is $470 million. The assets are not separablethey must be operated or sold together as a group. No individual asset has a determinable individual fair value less cost to disposal. Required: 1. Prepare an adjusting journal entry to record the impairment. What would be the net book value of the assets after one year if no impairment was recorded? Assume that straight-line depreciation is used. (Enter your answer in millions.)