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Sheffield Corp. has equipment with a carrying amount of $2630000. The expected future net cash flows from the equipment are $2670000, and its fair value

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Sheffield Corp. has equipment with a carrying amount of $2630000. The expected future net cash flows from the equipment are $2670000, and its fair value is $2043000. The equipment is expected to be used in operations in the future. What amount (if any) should Sheffield report as an impairment to its equipment? O $627000 O $587000 No impairment should be reported. O $40000

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