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Sheridan Corporation owns equipment with a cost of $292700 and accumulated depreciation at December 31 of $152400. It is estimated that the machinery will generate

image text in transcribed Sheridan Corporation owns equipment with a cost of $292700 and accumulated depreciation at December 31 of $152400. It is estimated that the machinery will generate future cash flows of $164800. The machinery has a fair value of $115400. Sheridan should recognize a loss on impairment of $0. $24500. $37000. $12400

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