First Inc. owns equipment for which it paid $90,000. At the end of 2021, it had accumulated depreciation on the equipment of $27,000. Due to adverse economic conditions, First's management determined that it should assess whether an impairment loss should be recognized for the equipment. The estimated undiscounted future cash flows to be provided by the equipment total $60,000, and the equipment's fair value at that point is $40,000. If First were to sell the equipment, the expected cost of sale is $5,000, and First Inc. intends to sell the equipment. Under these circumstances. First: Would record no impairment loss on the equipment Would record a $23,000 impairment loss on the equipment Would record a $18,000 impairment loss on the equipment. None of these answer choices are correct.None of these answer choices are correct