Question: On December 31, Star Corp. had a reporting unit that had a book value of $ 950,000, including goodwill of $ 130,000. As part of

On December 31, Star Corp. had a reporting unit that had a book value of $ 950,000, including of $ 130,000. As part of the company’s annual review of impairment, Star determined that the fair value of the reporting unit was $ 890,000. Star assigned $ 840,000 of the reporting unit’s fair value to its assets and liabilities other than . What is the impairment loss to be reported on December 31 under U. S. GAAP?
a. $ 50,000
b. $ 60,000
c. $ 80,000
d. $ 110,000

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