Devo Co.has an indefinite-life intangible asset with a carrying value of $782,000.The undiscounted cash flows expected to be realized from that asset total $827,000; the discounted cash flows are $574,000; and the fair value of the asset has been determined to be $646,000.What is the amount of the impairment loss to be recorded,if any?
A)$208,000
B)$136,000
C)$35,000
D)-0-

Question

Quizplus · Accepted Answer

The impairment loss is calculated as the difference between the carrying value and fair value of the intangible asset, or $782,000 - $646,000 = $136,000.

Devo Cohas an Indefinite-Life Intangible Asset with a Carrying Value of of $782,000.The