Aaa co holds an item of machinery which it believes is impaired. the following information is relevant: the machine is held at historical cost the carrying amount of the machinery is $25,000 the fair value of the machinery is $33,000, the cost of selling is $500 the present value of the value in use of the machinery is estimated to be $24,000 required determine whether the machinery is impaired and if so, calculate the impairment loss.
