Coco Sdn Bhd has a year end of 31 December and operates a factory which makes ceramic tiles. It purchased a machine on 1 July 2016 for $80,000 which had a useful life of ten years and is depreciated on the straight-line basis, time apportioned in the years of acquisition and disposal. The machine was revalued to $81,000 on 1 July 2017. There was no change to its useful life at that date. A fire at the factory on 1 October 2019 damaged the machine leaving it with a lower operating capacity. The accountant considers that Coco Sdn Bhd will need to recognise an impairment loss in relation to this damage. The accountant has ascertained the following information at 1 October 2019: (i) An equivalent new machine would cost $90,000. (ii) The machine could be sold in its current condition for a gross amount of $45,000 with a dismantling cost of $2,000. (iii) In its current condition, the machine could be used for three more years which gives it value in use of $38,685. Required: With respect to IAS 36, Impairments of Assets, calculate the impairment loss for the machine for the year ended 31 December 2019. Show relevant workings.