1. BuildMax acquired a production plant for $800,000 with an estimated residual value of $55,000 and an estimated life of five years. The company uses the straight-line depreciation method. Due to economic factors, the estimated net cash inflows are $240,000 on 31 March 20X3, $190,000 on 31 March 20X4, and $180,000 on 31 March 20X5. The values of $1 at the end of each year are 0.90 for year 1, 0.84 for year 2, and 0.78 for year 3. Calculate the carrying amounts of BuildMax’s plant after applying impairment losses, prepare an equity statement, and assess the overall financial impact.