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Record the impairment loss for steel magnolia.

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Reference no: EM13866018

Steel Magnolia Incorporated purchased a trademark seven years ago for $275,000. Steel Magnolia believed the trademark would have an indefinite life. At the end of 2011, the corporation believes the fair value of the trademark is $189,000. 
Record the impairment loss for Steel Magnolia.

Reference no: EM13866018

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