Exercise 11-30 (Algo) Impairment; property, plant, and equipment [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 foliowing information for the assets at the plant: Cost: Accumulated depreciation General's estimate of the total cash flows to be generated by selling the products manufactured at its Arizona plant, not discounted to present value $34.5 mitition $14.4 million $15.4 mitlion The fair value of the Arizona plant is estimated to be $12 million. Required: 1. Determine the amount of impairment loss. 2. If a loss is indicated, prepare the entry to record the loss. 3. \& 4. Determine the amount of impairment loss assuming that the estimated undiscounted sum of future cash flows is (3) $13 millior instead of $15.4 million and (4) $20.5 million instead of $15.4 million. Complete this question by entering your answers In the tabs below. Determine the amount of impairment loss. Note: Enter your answer in millions rounded to 1 decimal place (1.e.,5,500,000 should be entered as 5.5)