Collison and Ryder Company $($C&R$)$ has been experiencing declining market conditions for its sportswear division. Management decided to test the assets of the division for possible impairment. The test revealed the following: book value of division$$s assets, $$29\mathrm{.}5$ million; fair value of division$$s assets, $$22\mathrm{.}5$ million; undiscounted sum of estimated future cash flows generated from the division$$s assets, $$30\mathrm{.}2$ million.

What amount of impairment loss should C&R report in its income statement?