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The following information is available for Bassett Company's patents: Cost Carrying amount Expected future net cash flows Fair Value $1,720,000 860,000 640,000 800,000 Bassett Company

The following information is available for Bassett Company's patents: Cost Carrying amount Expected future net cash flows Fair Value $1,720,000 860,000 640,000 800,000 Bassett Company would record a loss on impairment of

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