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In 2018, Martin Corp. acquired Glynco and recorded goodwill of $100 million. Martin considers Glynco a separate reporting unit. By the end of 2021, the net assets (including goodwill) of Glynco are $320 million and its estimated fair value is $260 million. The amount of the impairment loss that Martin would record for goodwill at the end of 2021 is:Multiple Choice$0.$60 million.$40 million.$160 million.

Answer :

Answer:

$60 million

Explanation:

In this scenario, we compare the values between carrying value and the fair value of machinery, the difference would be the loss on impairment of the asset

In mathematically,  

= Carrying value - fair value  

= $320 million - $260 million

= $60 million

All other information which is given is not relevant. Hence, ignored it

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