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TB MC Qu. 11-153 (Algo) Oak Inc. has the following information... Oak Inc. has the following information regarding its assets Estimated Book Value Cash Flows

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TB MC Qu. 11-153 (Algo) Oak Inc. has the following information... Oak Inc. has the following information regarding its assets Estimated Book Value Cash Flows Fair Value Equipment $51,000 $46,000 $48,000 Building $84,000 $86,000 $81,000 Patent $46,000 $50,000 $48,000 What amount of loss should be recorded due to asset impairments? Multiple Choice $4,000 $6.000 $5,000 $3,000

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