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! Required information [The following information applies to the questions displayed below.] El Dorado Foods Inc. owns a chain of specialty stores in the
! Required information [The following information applies to the questions displayed below.] El Dorado Foods Inc. owns a chain of specialty stores in the Pacific Northwest. Recently, four of the stores have experienced declining profits due to market saturation in the area. As a result, management gathered data about possible impairment of the assets of the stores. The information gathered was as follows: Book value: $17.30 million Fair value (Present value of future cash flows): $14.86 million Undiscounted sum of future cash flows: $16.30 million Required: Determine the amount, if any, of the impairment loss that El Dorado must recognize on these assets. (Enter your answer in millions rounded to 2 decimal places (i.e., 5,500,000 should be entered as 5.50).) Impairment loss million
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