0/14 answered Due today at 5:10 Unanswered Problem 1: Impairment Presented below is information related to equipment owned by Fixit Inc on 12/31/2017 Cost $19,900,000 Accumulated depreciation to date 4,500,000 Expected future net cash flows 15,000,000 Fair value 10,200,000 Salvage value: 500,000 As of December 31, 2017, Fixit Inc will continue to use this asset in the future for the production of a different type of product and applies straight-line depreciation. Required Prepare the journal entry (if any) to record the impairment of the asset at December 31, 2017 Note: please include your final answer and your calculations in the text box. If you only include a final answer and the answer is incorrect, I will not be able to give partial points if there are no calculations in the text box