Blossom Concrete Ltd. own a cement manufacturing equipment and needs to determine the asset's value in use to test for impairment. Blossom's management estimates that the equipment will last for another four years and that it will generate the following future cash flows at the end of each year: Year 1 $20,000 Year 2 $18,000 Year 3 $23,000 Year 4 $16,500 Calculate the value in use in order to compare to the carrying value of the equipment. Value in use $ Calculate the present value of each of these future cash flows. Using a discount rate of 5%. (For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round final answers to 2 decimal places, eg. 5,275.25.) Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF 1. Present Value Year 1 $ Year 2 $ Year 3 Year 4 S S