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 $ 43.5 million Accumulated depreciation $ 15.3 million Generals estimate of the total cash flows to be generated by selling the products manufactured at its Arizona plant, not discounted to present value $ 17.2 million The fair value of the Arizona plant is estimated to be $16.5 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) $16.5 million instead of $17.2 million and (4) $29.15 million instead of $17.2 million