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help Waterway Industries bought a machine on January 1, 2011 for $802000. The machine had a expected life of 20 years and was expected to
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Waterway Industries bought a machine on January 1, 2011 for $802000. The machine had a expected life of 20 years and was expected to have a salvage value of $84000. On July 1.2021 the company reviewed the potential of the machine and determined that its future net cash flows totaled $397000 and its fair value was $305000. If the company does not plan to dispose of it, what should Waterway record as an impairment loss on July 1, 2021? $130100 $120050 $28050 $o Step by Step Solution
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