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Crane Company has equipment with a carrying amount of $2400000. The expected future net cash flows from the equipment are $2440000, and its fair value
Crane Company has equipment with a carrying amount of $2400000. The expected future net cash flows from the equipment are $2440000, and its fair value is $2035000. The equipment is expected to be used in operations in the future. What amount (if any) should Crane report as an impairment to its equipment?
$40000.
No impairment should be reported.
$405000.
$365000.
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