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	$ 46.5	million
Accumulated depreciation	$ 15.6	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	$ 17.8	million

The fair value of the Arizona plant is estimated to be $18 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) $18 million instead of $17.8 million and (4) $31.25 million instead of $17.8 million.