Question: Anthara Corporation had a machine whose Book value at the end of 2003 was $ 16,000 and a Building with Book value of $ 40,000.

Anthara Corporation had a machine whose Book value at the end of 2003 was $ 16,000 and a Building with Book value of $ 40,000. The undiscounted future cash flows from the Machine and the Building were estimated as $ 10,000 and $ 41,000 respectively. The fair market values of the machine and the Building were $ 9,000 and $39,000 respectively. How much should Anthara report as impairment loss for the machine and for the building in 2003?

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