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Oak Inc. has the following information regarding its assets: Equipment Building Patent Book Value $47,000 $80,000 $42,000 Estimated Cash Flows $42,000 $82,000 $46,000 Fair Value

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Oak Inc. has the following information regarding its assets: Equipment Building Patent Book Value $47,000 $80,000 $42,000 Estimated Cash Flows $42,000 $82,000 $46,000 Fair Value $38,000 $77,000 $44,000 What amount of loss should be recorded due to asset impairments? Multiple Choice $12,000. O $11,000. O $10,000. $9,000

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