1- On January 1, 2018, Cheyenne Ltd. purchased equipment for $704,000. The equipment was assumed to have an 8-year useful life and no residual value, and was to be depreciated using the straight-line method. On January 1, 2020, Cheyenne's management became concerned that the equipment may have become obsolete. Management calculated that the undiscounted future net cash flows from the equipment was $506,000, the discounted future net cash flows was $448,800, and the current fair value of the equipment (after costs to sell) was $440,000. A- Assuming that Cheyenne is a private Canadian company following ASPE, identify which model should be used to test for impairment and record the journal entry to record the impairment loss, if any. B- Assuming that Cheyenne is a public Canadian company, identify which model should be used to test for impairment and record the journal entry to record the impairment loss, if any.