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Company A bought a machine on January 1, 2016 for $595,000. The machine had an expected life of 10 years and was expected to have
Company A bought a machine on January 1, 2016 for $595,000. The machine had an expected life of 10 years and was expected to have a salvage value of $57,000. On July 1, 2021, the company reviewed the potential of the machine and determined that its future net cash flows totaled $285,750 and its fair value was $223,500. If the company does not plan to dispose of it, the company should record an impairment loss on July 1, 2021 for $ (Round final answer to 0 decimal places, e-9. 3369; do not include dollar sign and comma in your final answer.)
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