How much should discovery corp record the gain

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Problem 1: Discovery Corp. purchased an office building in 2012 at a cost of $1,100,000. During 2019, a series of negative events occurred on the real estate market. Discovery has performed the recoverability test at the end of 2019 and determined that the office building had suffered an impairment of value. The book value of the asset is $500,000 at the time of recoverability test and its estimated fair value is $268987. For year 2019, How much should Discovery Corp. record the gain/loss on impairment of office building? (in case of loss, add a negative sign to the number. Round your answer to the nearest dollar)

Reference no: EM132760659

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