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The following information is available for Clark Company's patents: Cost Carrying amount Expected future net cash flows Fair value $3,440,000 1,720,000 1,600,000 1,300,000 Clark would

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The following information is available for Clark Company's patents: Cost Carrying amount Expected future net cash flows Fair value $3,440,000 1,720,000 1,600,000 1,300,000 Clark would record a loss on impairment of $ 120,000 $1,720,000. $1,840,000. $ 420,000

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