Question: 7. Tanner Company purchased a building during 2016 for $600,000. From 2016 to 2018, $240,000 of depreciation was recorded. The current net fair value is

7. Tanner Company purchased a building during 2016 for $600,000. From 2016 to 2018, $240,000 of depreciation was recorded. The current net fair value is $350,000 and the value in use is $370,000. The amount of impairment that should be recognized is A) $0 B) $40,000 C) $80,000 D) $240,000

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