Answer:
The amount of impairment loss that should be recognized is $20,000,000
Explanation:
In order to calculate the amount of impairment loss that should be recognized we would have to make the following calculation:
amount of impairment loss=Carrying value - Fair value
Carrying value=$100,000,000
Fair Value=$80,000,000
Therefore, amount of impairment loss=$100,000,000-$80,000,000
amount of impairment loss= $20,00,000
The amount of impairment loss that should be recognized is $20,000,000
