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Question - On December 31, Year 1, Brown Brothers purchased machine A for $770,000 and machine B for $300,000. The machines are depreciated on thestraight-line basis over 10 years with no salvage value. Brown reviews its assets for impairment annually. While doing the U.S. GAAP impairment analysis at year-end Year 6, Brown determines that the expected future cash flows are $70,000 per year from machine A and $40,000 per year from machine B over the remaining lives of the assets. At December 31, Year 6, the fair values of machines A and B are $300,000 and $180,000, respectively. What amount of impairment loss should Brown report on its Year 6 income statement under U.S. GAAP?
A. $85,000
B. $50,000
C. $35,000
D. $
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