3. Assignment (9 points) An asset which costs 200.000 on 1 January 20X5 is being depreciated on the straight-line basis over five years with a residual value of 40.000 . The company which owns the asset has conducted an impairment review at 31 December 20X6 and estimates the asset will generate the following cash flows over the remainder of its useful life: Outflows in 000 Year Inflows in 000 20X7 45 5 20X8 20X9 35 60 5 5 The cash inflow for 20X9 includes the estimated residual value of 40.000 . The asset could be sold on 31 December 20X6 for 110.000 . Disposal costs would be 6.000 (31 Dec. 20X6). Calculate the amount of impairment loss that has occurred and explain how this should be accounted for. Show the single steps of your calculation.