G plc G plc purchased machinery for its factory on 1 January 2020, paying 600,000. The supplying company's invoice recorded the following: Manufacturer's list price Less: Trade discount Delivery and installation fees 000 580 (20) 560 40 600 G Plc's accounting policy for depreciation applicable to this machinery is a straight-line basis over five years. Initial estimates at the purchase date put the residual value at 120,000. On 31 December 2021 G plc conducted an impairment review. The sale value of the asset on that date was 330,000, although this would be subject to sale costs of 18,000. Estimates of future cash flows generated by the machinery for the remainder of its useful life are inflows of 135,000, 105,000 and 185,000 (including the estimated residual value) for 2022, 2023 and 2024 respectively, with outflows of 25,000 in each year. All cash flows are assumed to occur at the end of each year for calculation purposes. A discount rate of 4% is applicable. Required: (c)(i) Determine if an impairment loss has occurred and explain any accounting treatment required affecting the G plc's statement of profit or loss and statement of financial position for the year ended 31 December 2021. (26 marks) (c)(ii) Calculate the depreciation charges applicable to the machinery for the three subsequent years 2022, 2023 and 2024