How do determine the amount of impairment, Accounting Basics

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How do determine the amount of impairment

Problem: Impairment question in accounting.

Original cost: $3,000,000

Residual value: $300,000

Depreciation method: Straight Line over 30 years

Remaining life: 20 years

Estimated annual cash inflows: $80,000 (over remaining life)

Relevant rate: 4%

How do determine the amount of impairment (fair value test)?

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