Business, 05.05.2020 08:18 abigailweeks10

El Dorado Foods Inc. owns a chain of specialty stores in the Pacific Northwest. Recently, four of the stores have experienced declining profits due to market saturation in the area. As a result, management gathered data about possible impairment of the assets of the stores. The information gathered was as follows: Book value: $17.5 million Fair value: $14.9 million Undiscounted sum of future cash flows: $16.5 million Required: Determine the amount, if any, of the impairment loss that El Dorado must recognize on these assets. (Enter your answer in millions rounded to 1 decimal place (i. e., 5,500,000 should be entered as 5.5).)

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El Dorado Foods Inc. owns a chain of specialty stores in the Pacific Northwest. Recently, four of th...

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