M8-7 (Algo) Identifying Asset Impairment L08-4 For each of the following scenarios, select whether an asset has been impaired (Y for yes and N for no) and, if so, the amount of loss that should be recorded. Book Value Fair Value Is Asset Impaired? Amount of Loss $ $ a. Machine b. Copyright c. Factory building d. Building 15,550 31,000 58,100 227,050 Estimated Future Cash Flows $ 10,000 41,000 29,000 227,050 9,650 37,750 26,950 200,150