Question: How might your solution differ if Chadwick Enterprises, Inc., prepares its financial statements according to International Financial Reporting Standards? Assume that the fair value amount

How might your solution differ if Chadwick Enterprises, Inc., prepares its financial statements according to International Financial Reporting Standards? Assume that the fair value amount given equals both (a) the fair value less costs to sell and (b) the present value of estimated future cash flows.

Book value $6.5 million

Estimated undiscounted sum of future cash flows 4.0 million

Fair value less costs to sell 3.5 million

Present value of estimated future cash flows 3.5 million

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