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! Required information Due to adverse economic conditions, Oak Inc's management has determined that it...

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Accounting

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! Required information Due to adverse economic conditions, Oak Inc's management has determined that it should assess whether an impairment loss should be recognized for the following assets: Book Value Estimated Undiscounted Fair Value Future Cash Flows Equipment $35,000 $30,000 $28.000 Building $68,000 $70,000 $65.000 Patent $30,000 $34,000 $32,000 For those asset(s) that are deemed impaired, what is the total impairment loss that Oak Inc. should recognize at year end

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