help with #2

Chadwick Enterprises, Inc., operates several restaurants throughout the Midwest. Three of its restaurants located in the center of a large urban area have experienced declining profits due to declining population. The company's management has decided to test the assets of the restaurants for possible Impalment. The relevant information for these assets is presented below. Assume that Chadwick Enterprises prepares its financial statements according to International Financial Reporting Standards. Book value Estimated undiscounted sum of future cash flows Fair value 57.7 111on 4.6 million 4.1 Million Assume that the fair value amount given equals both (a) the fair value less costs to sell and (by the present value of estimated future cash flows Required: 1. Determine the amount of the impairment loss 2. Determine the amount of the Impairment loss assuming that the estimated undiscounted sum of future cash flows is $80 million and fair value is 55.6 million (For all requirements, negative amounts should be indicated by a minus sign. Enter your answers in milions rounded to 1 decimal place. (.e. 5,500,000 should be entered as 5.5)). Answer is complete but not entirely correct. Impairmentos 2 Impairment loss s $ 3.8 milion 0.003 milion