Listed below is information related to three assets reported in the financial statements of Grant Company:

Required:
For each scenario, indicate whether the asset has been impaired and, if so, the amount of the impairment loss that should be recorded?

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Book Value Estimated Future Cash Flows Asset Fair Value a. Building b. Equipment $180,000 $200,000 $190,000 15,000 13,000 c. Furniture 16,000