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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.

Reference no: EM132765533

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