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Compute for the impairment loss

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Question - A Company purchased a building on January 1, 2010 for a total of 10 Million. The building has been depreciated using SLM with 25-year useful life and no residual value. As of January 1, 2014, Lloyd & Company is evaluating the building for possible impairment. The building has a remaining useful life of 15 years and is expected to generate cash inflows of 450, 000 per year discounted at 5%. The estimated fair value less cost of disposal amount of the building on Jan 1, 2014 is 5,310, 000. Compute for the Impairment Loss.

A. 3,090,000

B. 0.00

C. 2.1M

D. 5.2M

Reference no: EM132759843

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