Lilliput Boutique owns a small retail outlet in a California coastal town. In the last...
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Lilliput Boutique owns a small retail outlet in a California coastal town. In the last few years, a significant percentage of the residents have moved further inland after a number of landslides destroyed area homes. The building was purchased on January at a cost $ The building has been depreciated assuming a service life of years, $ salvage value.
The companys chief financial officer is concerned about impairment. A conservative estimate of future annual net cash flows is $ Lilliput Boutique uses as a discount rate. An independent appraiser estimates the fair value of the property at $
What is the recoverable cost of the property as of December State your answer with commas, without a dollar sign $
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Recoverable cost: $ X remaining years $
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