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  3. company reports the following information at year-

company reports the following information at year-end: Book Value Estimated Cash...

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Accounting

company reports the following information at year-end:

Book Value Estimated Cash Flows Fair Value
Building $ 500,000 $ 420,000 $ 360,000
Patent $ 35,000 $ 50,000 $ 42,000
Copyright $ 40,000 $ 38,000 $ 29,000
Machine $ 100,000 $ 120,000 $ 85,000

Based on the above information, what is the total amount of impairment loss that the company should record at year-end?

Multiple Choice

  • $159,000

  • $166,000

  • $144,000

  • $151,000

Answer & Explanation Solved by verified expert
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