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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 Pacific Northwest.

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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 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: $17.20 million Fair value (Present value of future cash flows): $14.84 million Undiscounted sum of future cash flows: $16.20 million Required: Determine the amount, if any, of the Impalment loss that El Dorado must recognize on these assets. (Enter your answer in millions rounded to 2 decimal places (.e., 5,500,000 should be entered as 5.50).)

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