A business owns Equipment that they are evaulating for impairment. Equipment Book Value Estimated Future Cash Flows (undiscounted) Estimated Fair Value Estimated Future Cash Flows -DISCOUNTED After evaluating the asset for impairment, which of the following is (are) true? DATA $750,000 600,000 575,000 500,000 Select ALL true statements, wrong answers are penalized. The loss on impariment equals $0. If the fair value of the asset increase in the future, the loss can be recovered. The loss on impairment equals $ 150,000. Since the fair value is greater than the DISCOUNTED future cash flows there is no impairment. Since the estimated future cash flows (UNDISCOUNTED) is less than the book value an impairment has occurred. The loss on impairment equals $75,000. The loss on impariment equals $175,000