El Dorado Foods Inc. owns a chain of specialty stores in the Pacific Northwest. Recently, four of the stores have experienced declining profits due to market saturation in the area. As a result, management gathered data about possible impairment of tangible operational assets. The information gathered was as follows:Book value: $17.5 millionFair value: $14.9 millionUndiscounted sum of future cash flows: $16.5 millionDetermine the amount, if any, of the impairment loss that El Dorado must recognize on these assets.
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