i need answer asap pls On January 1, 2018, Edmondton Inc. purchased...
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i need answer asap pls
On January 1, 2018, Edmondton Inc. purchased equipment with a cost of 4,500,000, a useful life of 12 years and no salvage value. The Company uses straight-line depreciation. At December 31, 2018, the company determines that impairment indicators are present. The fair value less cost to sell the asset is estimated to be 3,850,000. The asset's value-in-use is estimated to be 3,500,000. There is no change in the asset's useful life or salvage value. What is the total amount for the equipment to reduce 2018 income before tax? 575,000. 625,000. 275,000 O 425,000. O 700,000 O 650,000. 375,000
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