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Oak Inc. has the following information regarding its assets: Estimated Book Value Cash Flows Fair Value Equipment $47,000 $42,000 $38,000 Building Patent $80,000 $82,000 $77,000

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

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