Grouper Corporation uses special strapping equipment in its packaging business. The equipment was purchased in January 2019 for $8.60 million and had an estimated useful life of 8 years with no residual value. In early April 2020, a part costing $750,000 and designed to increase the machinery's efficiency was added. The machine's estimated useful life did not change with this addition. By December 31, 2020, new technology had been introduced that would speed up the obsolescence of Grouper's equipment. Grouper's controller estimates that expected undiscounted future net cash flows on the equipment would be $5.42 million, and that expected discounted future net cash flows on the equipment would be $4.99 million. Fair value of the equipment at December 31, 2020, was estimated to be $4.82 million. Grouper intends to continue using the equipment, but estimates that its remaining useful life is now four years. Grouper uses straight-line depreciation. Assume that Grouper is a private company that follows ASPE.

a- what journal entry to record asset impairment at December 31, 2020, if any. (Credit account titles are automatically indented when the amount is entered.

b-air value of the equipment at December 31, 2021, is estimated to be $5.07 million. Prepare any journal entries for the equipment at December 31, 2021

c-Repeat part (b), assuming that on December 31, 2021, Grouper's management decides to dispose of the equipment. As at December 31, 2021, the asset is still in use and not ready for sale in its current state. In February 2022, Grouper's management will meet to outline an active program to find a buyer.

d-Repeat part (b), assuming that the equipment is designated as "held for sale" as of January 1, 2021, and that the equipment was not in use in 2021 but was still held by Grouper on December 31, 2021

e-Repeat parts (a) and (b), assuming instead that Grouper is a public company that prepares financial statements in accordance with IFRS