QUESTION 14 Holcomb Corporation owns machinery with a book value of $285,000. It is estimated that the machinery will generate future cash flows of $300,000. The machinery has a fair value of $210,000. Holcomb should recognize a loss on impairment of QUESTION 15 Marsh Corporation purchased a machine on July 1, 2017 for $1.250,000. The machine was estimated to have a useful life of 10 years with an estimated salvage value of $60,000. During 2020, it became apparent that the machine would become uneconomical after December 31, 2024, and that the machine would have no scrap value. What should be the charge for depreciation in 2020 under generally accepted accounting principles? QUESTION 16 Rivera Company purchased a tooling machine on January 3, 2013 for $700,000. The machine was being deprecated on the straight-line method over an estimated useful life of 10 years, with no salvage value. At the beginning of 2020, the company paid to overhaul the machine. As a result of this improvement, the company estimated that the useful life of the machine would be extended an additional 5 years. If the depreciation expense recorded for the machine in 2020 is $18.125 then how much money was paid to overhaul the machine