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Determine the amount of impairment

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Reference no: EM132429756

Question - Impairment question in accounting.

Original cost: $3,000,000

Residual value: $300,000

Depreciation method: Straight Line over 30 years

Remaining life: 20 years

Estimated annual cash inflows: $80,000 (over remaining life)

Relevant rate: 4%

How do determine the amount of impairment (fair value test)?

Reference no: EM132429756

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