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10.00 points located in operates restaurants throughout the Midwest Three of its restaurants the center of a large urban area have experienoed declining profits due

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10.00 points located in operates restaurants throughout the Midwest Three of its restaurants the center of a large urban area have experienoed declining profits due to dedining The company's management has decided to test the assets of the restaurants for possible impairment. The relevant information for these assets is presented below. Assume that Enterprises prepares its financial statements according to International Financial Reporting Standards. Book value 7.7 million Estimated undiscounted sum of future cash flows 4.6 million value 4.1 million Required 1. Assume that the fair value amount given equals both (a) the fair value less costs to sell and (b) the present value of estimated cash flows. (Enter your answer in millions. Round your answer to 1 decimal place.) million Impairment loss 2. Assume that the estimated undisoounted sum of future sach flows is $8.0 million and fair value is $5.6 million. Assume that the fair value amount given equals both (a) the fair value less costs to sell and (b) the present value of estimated cash flows. (Enter your answer in millions. Round your answer to 1 decimal place.) million airment l Book Pro

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