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QUESTION 1 Kinoland Company owns machinery that cost $900,000 and has accumulated depreciation of $360,000. The expected future net cash flows from the use of

QUESTION 1

Kinoland Company owns machinery that cost $900,000 and has accumulated depreciation of $360,000. The expected future net cash flows from the use of this asset are $550,000. The fair value of the equipment is $400,000.

If this machinery has an impairment loss, what is the amount of the loss?

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