AgriCorp acquired an agricultural processing facility on 1 January 20X1 for $3,000,000 with an estimated residual value of $300,000 and an estimated useful life of 15 years. The company applies the straight-line depreciation method. Due to changes in agricultural policies, the company now expects the following net cash inflows: $500,000 on 31 December 20X4, $450,000 on 31 December 20X5, $400,000 on 31 December 20X6, and $350,000 on 31 December 20X7. The present values of $1 at the end of each year, using a discount rate of 7%, are: 0.93, 0.87, 0.81, and 0.75. Required: Determine the recoverable amount and prepare a comprehensive impairment analysis report as of 31 December 20X4.