ASSET IMPAIRMENT) On 12/31/09, the Stevens Co. had an asset with cost of $10,000 and accumulated depreciation of $6,000. Because of changes in technology, the auditor inquired as to the expected future cash flows from the asset. The Company responded that total estimated future cash flows attributable to the asset amounted to $3,000. On 12/31/09, the fair market value of the asset was $2,800. 17. Is the asset impaired? a. yes b. no 18. What is the amount of loss due to impairment? a. 2,800 b. 1,200 c. 1,000 d. there is no need to record a loss due to impairment