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The following information is available for Garnsey Companys patents: Cost $3,440,000 Carrying amount 1,720,000...

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Accounting

The following information is available for Garnsey Companys patents:

Cost $3,440,000

Carrying amount 1,720,000

Expected future net cash flows 1,600,000

Fair value 1,300,000

Garnsey would record a loss on impairment of

A. $1,840,000.

B. $1,720,000.

C. $ 420,000.

D. $ 120,000.

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