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Presented below is information related to equipment owned by AL-Salam Healthy Life Food Company at December 31, 2019. Cost $4,500,000 Accumulated depreciation 1,900,000 Expected future
Presented below is information related to equipment owned by AL-Salam Healthy Life Food Company at December 31, 2019.
Cost $4,500,000
Accumulated depreciation 1,900,000
Expected future net cash flows 2,200,000
Fair value 2,080,000
Assume AL-Salam intends to continue to use this equipment in the future.
The amount of impairment loss is
Select one:
a. $ 400,000
b. $ 0
c. $ 120,000
d. $ 520,000
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