Crane Corporation owns equipment with a cost of $322000 and accumulated depreciation at December 31,2021...
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Crane Corporation owns equipment with a cost of $322000 and accumulated depreciation at December 31,2021 of $123000. It is estimated that the machinery will generate future cash flows of $183000. The machinery has a fair value of $165000. If Crane uses IFRS, the company should recognize a loss on impairment of: $0. $34000. $42000. $16000
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