5. Company A purchased equipment on January 1,2020 for $1,700,000. The equipment is depreciated on the double-declining balance method over an estimated useful life of 25 years, with a salvage value of $70,000. The equipment passes the recoverability test on December 31, 2020. On December 31,2021 , the management projects the annual undiscounted future net cash flows from this equipment to be $50,000 and the present value of these future cash flows to be $737,570. How much impairment loss should Company A report at the end of 2021 ? a. $166,480 b. $701,310 c. $647,102 d. $0