E 11-30. Impairment; property, plant, and equipment [ LO LO11-8 General Optic Corporation operates a manufacturing plant in Arizona. Due to a significant decline in demand for the product manufactured at the Arizona site, an impairment test is deemed appropriate. Management has acquired the following information for the assets at the plant: Cost $32.5 Accumulated depreciation million $14.2 General's estimate of the total cash flows to be generated by selling the products manufactured at its Arizona plant, not- S15 discounted to present value million The fair value of the Arizona plant is estimated to be $11 million. Required: 1. Determine the amount of impairment loss, if any. 2. If a loss is indicated, prepare the entry to record the loss. 3. Repeat requirement 1, assuming that the estimated undiscounted sum of future cash flows is $12 million instead of $15 million. 4. Repeat requirement 1, assuming that the estimated undiscounted sum of future cash flows is $19 million instead of $15 million