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Novak Inc. manufactures agricultural implements for commercial farms. As a result of recent technological advances, the market demand for one of its garden tractors has been steadily declining. The following assets are used in the manufacturing process: Novak Inc. is currently testing these assets for impairment. It determines that the small tools and specialized machinery have no other use and as a result no resale value. While the standard machinery could be sold today for $25,250, Novak Inc. plans to keep producing the garden tractors for three more years. It expects net cash flows from production to be $10,100 yearly and that it can sell the standard machinery for $17,675 at the end of year three. The fair value of these assets less the cost of disposal is estimated at. $27,270. The current interest rate is 5%. Assume that Novak Inc. follows IFRS and uses the rational entity model. Determine the impairment loss. (Round answer to 0 decimal places, es. 5,275.) Impairment loss $ How would the impairment loss be allocated to the assets in the cash-generating unit? (Round answers to 0 decimal places, eg. 5,275.) Small Tools Specialized Machinery $ $