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) Bass Company last year purchased some machinery for $4,400,000.It has a four year life with a $400,000 residual value.They depreciated the machinery for two

) Bass Company last year purchased some machinery for $4,400,000.It has a four year life with a $400,000 residual value.They depreciated the machinery for two years using straight line depreciation.After the first year, they discovered that its remaining cash flows undiscounted would be $2,435,000 with a fair market value of $2,200,000.Perform the impairment test and record any necessary write down.

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