Oak Inc. has the following information regarding its assets: Book Value Estimated Cash Flows Fair Value Equipment $35,000 $30,000 $28,000 Building $68,000 $70,000 $65,000 Patent $30,000 $34,000 $32,000 What amount of loss should be recorded due to asset impairment? a. $10,000. b. $9,000. c ... $8,000. d. $7,000.
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