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QUESTION 20 The following information is available for L&A Company's patents: $3,290,000 Cost 1,770,000 Carrying amount Expected future net cash flows 1,453,000 1,225,000 Fair value

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QUESTION 20 The following information is available for L&A Company's patents: $3,290,000 Cost 1,770,000 Carrying amount Expected future net cash flows 1,453,000 1,225,000 Fair value L&A would record a loss on impairment of: None of these answers is correct $1,837,000 $317,000 $1,770,000 $545,000

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