Linx Corporation acquired equipment on January 1, year 3, for $100,000. The equipment had a ten-year useful life and no salvage value. On December 31, year 4, the following information was obtained regarding the equipment:
Expected value of undiscounted cash flows $72,000
Fair value estimated with in-use valuation premise $74,000
Fair value estimated with in-exchange valuation premise $70,000
What is the amount of impairment loss that Linx should report in its year 4 income statement?