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 $ $34\mathrm{.}5$ million

Accumulated depreciation $ $14\mathrm{.}4$ million

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 $ $15\mathrm{.}4$ million

The fair value of the Arizona plant is estimated to be $$12$ million.