El Dorado Foods Inc. owns a chain of specialty stores in the Pacific Northwest of the United States. Recently, four of the stores have experienced declining profits due to market saturation in the area. As a result, management gathered data about possible impairment of assets as follows:

Cost $25,000,000 Accumulated Depreciation $7,500,000 Undiscounted sum of future cash flows $18,200,000 Fair market value $14,900,000 Instructions: Determine the amount of impairment loss, if any. If a loss is indicated, prepare the entry to record the loss.

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