Auto Solutions acquired an automotive research facility on 1 January 20X0 for $6,000,000 with an estimated residual value of $600,000 and an estimated useful life of 20 years. The company uses the double-declining balance depreciation method. Due to changes in automotive research funding, the company now forecasts the following net cash inflows: $800,000 on 31 December 20X3, $750,000 on 31 December 20X4, and $700,000 on 31 December 20X5. The present values of $1 at the end of each year, using a discount rate of 8%, are: 0.93 for year 1, 0.86 for year 2, and 0.79 for year 3. Required: Perform an impairment test, calculate the impairment loss, and prepare the necessary journal entries and financial statement disclosures as of 31 December 20X3.