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Question 18 2 pts The following information is available for Pharoah Company's patents: Cost $3,640,000 Carrying amount 2,020,000 Expected future net cash flows 1,796,000 Fair

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Question 18 2 pts The following information is available for Pharoah Company's patents: Cost $3,640,000 Carrying amount 2,020,000 Expected future net cash flows 1,796,000 Fair value 1,400,000 Pharoah would record a loss on impairment of O $720,000 $620,000 $224,000 $1,620,000

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