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The following information is related to equipment owned by the ASU Company at December 31, 2020. Cost Accumulated depreciation to date Expected future net cash flows Fair value $10,000,000 3,000,000 6,000,000 4,000,000 ASU Company will continue to use this equipment in the future. The equipment has a remaining useful life of 4 years. What amount should ASU Company report as an impairment loss for 2020? $2,000,000 $3,000,000 $4,000,000 $0--No impairment loss recognized The following information is related to equipment owned by the ASU Company at December 31, 2020. Cost Accumulated depreciation to date Expected future net cash flows Fair value $10,000,000 3,000,000 6.000.000 4,000,000 ASU Company will continue to use this equipment in the future. The equipment has a remaining useful life of 4 years. What amount should ASU Company record as Depreciation Expense for 2021? $3.000.000 $2,500,000 $1.000.000 $0 - - No depreciation expense recognized
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