16-2 Waix Ltd. (WL) is a manufacturer with a number of product lines, one of which is the production of parts for residential telephone sets. Recently there have been indications that the market for this product is likely to decline significantly, and WL is assessing various assets for impairment. The following assets are used specifically to manufacture these parts: Cost Accumulated Depreciation 10 50 30 Tools and dies Specialized equipment General equipment 35 18 The tools and dies and specialized equipment have no resale value other than for scrap, although the general equipment could be sold or used profitably in one of WL's other product lines. WL plans on continuing production of these parts for two more years in order to fill its existing commitments. The present value of the net cash flows from the next two years' production of these parts is $26 and the estimated net amount that could be recovered if these assets were sold today is $15 Briefly discuss whether these assets should be assessed for impairment individually or as part of a cash-generating unit Assuming the assets are allocated to a CGU made up of the three types of assets identified, determine whether an impairment loss needs to be recognized, and if so, in what total amount a) b) Prepare the entry needed to record any impairment loss indicated, assuming these assets are reported in separate asset classes c)