Four years ago ABC Products, Inc. acquired a computer-controlled milling machine to use in its medical device manufacturing operations at a cost of $5,000,000. The firm expected the machine to have an eight-year useful life and zero salvage value. The company has been using straight-line depreciation for the asset. Due to the rapid rate of technological change in the industry, at the end of Year 5, ABC estimates that the machine is capable of generating (undiscounted) future cash flows of $1,500,000. Based on the quoted market prices of similar assets, ABC estimates the machine to have a fair value of $1,200,000. Please discuss the following statements/questions and reply to at least one other student. a. What is the book value of the machine at the end of Year 5? b. Should ABC recognize an impairment of this asset? Why or why not? If yes, what is the amount of the impairment loss that should be recognized? c. At the end of Year 5, at what amount should the machine appear in ABCa's balance sheet? d. What would your answer to requirement (b.) have been if ABC's estimate of the machine's (undiscounted) future cash flows was $2,000,000