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Mains Corporation owns equipment with a cost of $290,000 and accumulated depreciation at December 31,...

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Accounting

Mains Corporation owns equipment with a cost of $290,000 and accumulated depreciation at December 31, 2017 of $150,000. It is estimated that he machinery will generate future cash flows of $165,000. The machinery has a fair value of $115,000. Mains should recognize a loss on impairment of

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