Listed below is information related to three assets reported in the financial statements of Grant Company:

Required:
For each scenario, indicate whether the asset has been impaired and, if so, the amount of the impairment loss that should be recorded?

Book Value Estimated Future Cash Flows Asset Fair Value a. Building b. Equipment $180,000 $200,000 $190,000 15,000 13,000 c. Furniture 16,000