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Chicago Ltd provides the following information in relation to its equipment assets:
- Carrying amount $45,000
- Fair value $43,000
- Costs of disposal $800
- Value in use $41,000
Determine the impairment loss assuming the cost model is used for the equipment assets
- do not use a minus sign; simply enter the amount of the loss (e.g. 15000)
- if the asset is not impaired enter 0 as your answer
Note: Do not enter $ symbols or commas; calculate to the nearest whole dollar
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