Return t Collison and Ryder Company (C&R) has been experiencing declining market conditions for its...
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Return t Collison and Ryder Company (C&R) has been experiencing declining market conditions for its sportswear division. Management decided to test the assets of the division for possible impairment. The test revealed the following: book value of division's assets, $28.3 million; fair value of division's assets, $21.9 million; sum of estimated future cash flows generated from the division's assets, $28.9 million What amount of impairment loss should C&R recognize? (Enter your answer in whole dollars.) Answer is complete but not entirely correct. Impairment 6,400,000
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