The Faris Corporation has determined that there may be indicators of impairment for one of their assets - an office building that is currently leased out and a cash generating unit (CGU) representing a business unit. Data for the building and CGU follow. The year end is December 31, 20x4. Building CGU Carrying value (20 years remaining, $500,000 residual value) Fair value Costs to sell Future cash flows generated by building (each year to the end of its useful life) a) Land Building Equipment Goodwill Assume a discount rate of 5%. $2,800,000 2,100,000 6% of fair value Carrying Value $1,000,000 2,400,000 900,000 1,000,000 $5,300,000 $170,000 Fair Value less Costs to Sell $1,650,000 1,700,000 550,000 $3,900,000 The CGU's cash flows are expected to be equal to $500,000 for the next five years with a residual value of $2,500,000 at the end of five years. Required - Calculate the amount of impairment loss (if any) for the building and CGU under the assumption that Faris is: i) a publicly accountable entity. Allocate the impairment loss (if any) to the assets of the CGU.