Cougar Corp.'s balance sheet includes the following asset:

Equipment........................................................ $95,000

Less: accumulated depreciation...................... (25,000)

Book value (carrying amount).......................... $70,000

After performing its annual review for impairment, Cougar obtains the following data:

Asset's value in use......................................... $58,000

Fair value less disposal costs............................ 62,000

Assuming Cougar uses the rational entity impairment model,

a) Calculate the recoverable amount.

b) Calculate the impairment loss.

c) I would like the entry to record the impairment loss.