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WebHelper Inc. acquired 100% of the outstanding stock of Silicon Chips Corporation (SCC) for $45.2...

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Accounting

WebHelper Inc. acquired 100% of the outstanding stock of Silicon Chips Corporation (SCC) for $45.2 million, of which $15.4 million was allocated to goodwill. At the end of the current fiscal year, an impairment test revealed the following: fair value of SCC, $40.4 million; fair value of SCCs net assets (excluding goodwill), $31.2 million; book value of SCCs net assets (including goodwill), $42.6 million. What amount of impairment loss should WebHelper recognize? (Enter your answer in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5)).

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