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 f the assets at the plant: CostAccumulateddepreciationGeneralsestimateofthetotalcashflowstobegeneratedbysellingtheproductsmanufacturedatitsArizonaplant,notdiscountedtopresentvalue$47.5million$15.7million$18.0million The fair value of the Arizona plant is estimated to be $18.5 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) $18.5 million instead of $18 million and (4) \$32.25 million instead of $18 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 (i.e., 5,500,000 should be entered as 5.5). If a loss is indicated, prepare the entry to record the loss. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first acco millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5). Journal entry worksheet If a loss is indicated, prepare the entry to record the loss. Note: Enter debits before credits. Determine the amount of impairment loss assuming that the estimated undiscounted sum of future cash flows is (3) $18.5 million instead of $18 million and (4) $32.25 million instead of $18 million. Note: Enter your answer in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5)