Caitlyn recently attended a professional development workshop and they were discussing impairments. It got her thinking at out this one unique piece of equipment that is significantly behind technology-wise compared to current models. The original purchase price was $12,000 and the accumulated depreciation to date is $6,000. The undiscounted cash flow from the use of this asset is $7,000 and the fair value of the asset is $5,000. Walk Caitlyn through the process of determining if an impairment occurred and if applicable, prepare the journal entry to record the impairment