value 10.00 points At the beginning of 2014, Metatec Inc. acquired Ellison Technology Corporation for $510 million. In addition to cash, receivables, and inventory, the following assets and their fair values were also acquired Plant and equipment (depreciable assets) Patent Goodwill $141 million 31 million 110 million The plant and equipment are depreciated over a 10-year useful life on a straight-ine basis. There is no estimated residual value. The patent is estimated to have a 5-year useful life, no residual value, and is amortized using the straight-line method At the end of 2016, a change in business dimate indicated to management that the assets of Ellison might be impaired. The following amounts have been determined Plant and equipment Undiscounted sum of future cash flows Fair value $ 71 million 51 million Patent Undiscounted sum of future cash flows Fair value $ 19 million 12 million Goodwill $351 million Fair value of Elison Technology Fair value of Ellison's net assets (excluding goodwill) 300 million Book value of Elison's net assets (including goodwill) 380 million After first recording any impairment losses on plant and equipment and the patent. Required: 1. Compute the book value of the plant and equipment and patent at the end of 2016. (Enter your answers in millions.) Plant and equipment Patent milion 4. Determine the amount of any impairment loss to be recorded, if any, for the three assets. (Enter your answers in millions.) eck Your Work-Int. 952 818 fa s51 (4)pdf