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in 2020, Crate Company acquired production machinery at a cost of $520,000, which now, in 2023, has an accumulated depreciation balance of $350,000. The undiscounted
in 2020, Crate Company acquired production machinery at a cost of $520,000, which now, in 2023, has an accumulated depreciation balance of $350,000. The undiscounted future cash flows from use of the machinery is $200,000 and its current fair value is $160,000. What amount should Crate recognize as a loss on impairment? why is the answer $0?
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