Champion Company reviews its assets every fiscal year for potential asset impairments. In the current year Champion realized through its impairment assessment that a specialized machine has a recoverable amount of $360,500. This asset carries a cost of $890,000 and up-to-date accumulated depreciation of $492,200. What amount would be reported as an impairment loss on Champion's current income statement at year end? O $0 O $397.800 O $360,500 O $37.300