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6. Presented below is information related to long term assets owned by comet company at December 31,2019 original cost depreciation or amortization to date expected

6. Presented below is information related to long term assets owned by comet company at December 31,2019

original cost

depreciation or amortization to date

expected future net cash flows (undiscounted)

fair market value

equipment

500,000

47,500

450,000

443,500

the impairment should be

  1. 9000
  2. 40,000
  3. 56000

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