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How much impairment loss should the company record

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Reference no: EM133002434

Problem 1: Rainbow Drilling Company is assessing an offshore oil drilling platform for potential impairment. The company estimates the following: book value of P18,500,000; fair value of P12,000,000; and the sum of the PV of projected future cash flows produced by the oil drilling platform is P16,000,000. How much, if any, impairment loss should the company record?

Reference no: EM133002434

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