Saved Help Save & Exit Check m Chadwick Enterprises, Inc, operates several restaurants throughout the Midwest. Three of its restaurants located in the center of a large urban area have experienced declining profits due to declining population. The company's management has decided to test the assets of the restaurants for possible impairment. The relevant information for these assets is presented below. $8.9 million Book value Estimated undiscounted sum of future cash flows5.2 million Fair value 9 4.7 mil1ion Required: 1. Determine the amount of the impairment loss. 2. Determine the amount of the impairment loss assuming that the estimated undiscounted sum of future cash flows is $92 million and (For all requirements, Enter your answer in millions rounded to 1 decimal place, (i.e. 5,500,000 should be entered as 5.5) 1. Impairment loss 2. Impairment loss milion million On April 30, 2018, Quality Appliances purchased equipment for $299,000. The estimated service life of the equipment is six years and the estimated residual value is $38,000. Quality's fiscal year ends on December 31 Required: Calculate depreciation for 2018 and 2019 using each of the three methods listed. Quality calculates partial year depreciation based on the number of months the asset is in service. (Do not round intermediate calculations. Round your final answers to nearest whole dollar.) 2018 2019 43,500 1. Straight-line 2. Sum-of-the-years-digits $ of $288,143 $ 98,670