On January 1, 2021, Jamison Inc. began construction of a new warehouse. The building was finished and ready for use on September 30, 2022. Expenditures on the project were as follows: January 1, 2021 September 1, 2021 December 31, 2021 March 31, 2022 September 30, 2022 $300,000 $450,000 $450,000 $450,000 $300,000 Jamison Inc. had $5,000,000 in 12% bonds outstanding through both years. What was the final cost of Jamison's warehouse? Multiple Choice $1,950,000 $1,254,000 Prou Cutter Enterprises owns an equipment for which it paid $70 million. At the end of 2021, it had accumulated depreciation on the equipment of $12 million. Due to adverse economic conditions, Cutter's management determined that it should assess whether an impairment loss should be recognized for the equipment. The estimated undiscounted future cash flows to be provided by the equipment total $60 million, and the equipment's fair value at that point is $50 million. Under these circumstances, Cutter Enterprises: Multiple Choice None of these answer choices is correct. Would record a $20 million impairment loss on the equipment. Would record an $8 million impairment loss on the equipment Would record no impairment loss on the equipment