Fredrick Wilson Company determined that one of its finite-life intangible assets is impaired. The asset's net carrying value on the date of the impairment is $905,000. Fredrick Wilson does not use a separate accumulated amortization account in order to estimate fair value, Fredrick Wilson must use the discounted cash-flow model. The company projected the asset's future cash flows as follows (Click the icon to view the cash flow projection table.) Euture Value of \$1 table Euture Value of an Ordioary. Annuity table Euture Value of an Annuity Due table Present Value of \$1 table Present Value of an Ordinary Annuty table Ptesent Value of an Annuity Duo table. Assuming a discount rate of 8%, prepare the journal entry to record the impairment loss (show all supporting computations). \begin{tabular}{lrr} Future Period & Cash-Flow Projection \\ Year 1 & $ & 400,000 \\ Year 2 & 250,000 \\ Year 3 & 140,000 \\ Year 4 & 60,000 \\ Total & $ & 850,000 \\ \hline \hline \end{tabular}