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Gravy Incorporated owns patents with a book value of $190,000. Expected future cash flows of $210,000 is estimated. The patent has a fair value of

Gravy Incorporated owns patents with a book value of $190,000. Expected future cash flows of $210,000 is estimated. The patent has a fair value of $140,000. How much, if any, Is the impairment loss? Explain your response.

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