Business, 08.04.2021 20:20 hellp138

Pine Corp. acquired a patent in a business combination on January 1, 2020 and allocated $500,000 of the purchase price to that asset. Pine began amortizing the patent over a 5-year estimated useful life (straight-line, no salvage value). At year end, it estimated that the future cash flows that will be produced by the asset would be $90,000 in each of the next four years. Pine believes that an 8% discount rate is appropriate to estimate the present value (fair value) of these cash flows. What impairment loss (if any) should Pine recognize in 2020

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Pine Corp. acquired a patent in a business combination on January 1, 2020 and allocated $500,000 of...

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