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A tangible fixed asset has a book value of $ 5 0 , 0 0 0 . Its fair value is $ 4 7 ,

A tangible fixed asset has a book value of $50,000. Its fair value is $47,000. The sum of the estimated future cash flows is $50,500. The company will recognize:
a. $3,000 impairment loss
b. $3,500 impairment loss
c. $500 impairment gain
d. None of the above.
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