TBB Corp. has the following information regarding three of its assets: Estimated Book Value Cash Flows Fair Value Equipment $ 35,000 $ 36,000 $ 30,000 Building $ 68,000 $ 70,000 $ 65,000 Patent $...



TBB Corp. has the following information regarding three of its assets:

























































































Estimated









Book Value



Cash Flows



Fair Value





Equipment





$



35,000







$



36,000







$



30,000







Building





$



68,000







$



70,000







$



65,000







Patent





$



30,000







$



28,000







$



26,000








What amount of loss should be recorded by TBB due to asset impairment?







Select one:


a. $4,000

b. $7,000

c. $12,000

d. $10,000

e. $6,000




Jun 10, 2022
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