9. On January 1, 20x1, Wheel Co. purchased a machine for P2,000,000 and established an annual straight-line depreciation rate of 10% with no residual value. During 20x5 Wheel determined that the machine will not be economically useful in its production process after December 31, 20x5. Wheel estimated that the machine had no residual value at December 31, 20x5, and would be disposed of in early 20x6 at a cost P50,000. In its profit or loss for the year ended December 31, 20x5. What amount and type of charge should Wheel report for the machine? Depreciation Impairment loss 0 1,250,000 b. 200,000 1,000,000 200,000 1,050,000 d. 1,200,000 50,000 a. C. (Adanted)