Antpitta purchased equipment in 2018 for $17,406,300. In 2020, it has become obvious that the equipment is no longer very useful to the company. The accounting team believes they need to formally impair the equipment. The team has estimated that the fair value of the equipment is $13,054,700, and the accounts report a book value of $13,538,200. Based on these estimates, what will the entry to record the impairment include? (A 30)

		Credit to Accumulated Depreciation of $483,500
		Debit to Gain on Impairment of $483,500
		Debit to Retained Earnings of $483,500
		Credit to Land of $483,500