In 2022, Alliant Corporation acquired Centerpoint Inc. for $300 million, of which $50 million was allocated to goodwill. At the end of 2024, management has provided the following information for a required goodwill impairment test:

Required:
1. Determine the amount of the impairment loss reported in the 2024 income statement.
2. Determine the amount of goodwill reported in the year-end 2024 balance sheet.
3. Repeat requirements 1 and 2, assuming that the fair value of Centerpoint is $270 million.

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Fair value of Centerpoint Inc. Book value of Centerpoint's Book value of Centerpoint's net assets (excluding goodwill) net assets (including goodwill) $220 million 200 million 250 million