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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:$17.35 million Fair value: $14.87 million Undiscounted sum of future cash flows: $16.35 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 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: $17.35 million Fair value: $14.87 million Undiscounted sum of future cash flows: $16.35 million Required: Assume that the undiscounted sum of future cash flows is $18.05 million, instead of $16,35 million. Determine the amount, if any, of the impairment loss that El Dorado must recognize on these assets. Impairmont loss millions

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