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please answer and show all work thanks 9. Regis Inc. bought a machine on July 1, 2004 for $400,000. The machine had an expected life
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9. Regis Inc. bought a machine on July 1, 2004 for $400,000. The machine had an expected life of 20 years and was expected to have a salvage value of $40,000. On July 1, 2014, the company reviewed the potential of the machine and determined that its undiscounted future net cash flows totaled $200,000 and its discounted future net cash flows totaled $140,000. If no active market exists for the machine and the company does not plan to dispose of it, what should Regis record as an impairment loss on July 1, 2014? a. $0 b. $40,000 c. $20,000 d. $80,000 Step by Step Solution
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