Identifying and Recording Impairment Loss on Equipment Bolt Company purchased equipment on yanuary 1 of Year 1 for 161,200 . This equipment has an estimated useful life of five years, a residual value of s7,200, and is depreciated using the sum-of the -years -digis method. At the beginning of Year 3 , Bolt suspects that the onginal investment in the asset will not be reakzed; the sotal remaining future cash inflow expected to be produced through use of the equipment, induding the original residual value, is 518,000 . The equipment's fair value at January 1 of Year 3 is $12600. a. Determine whether the asset is impared and, if so, the amount of the impsiment loss on january 1 of Year 3 . Note: If the arset is not impaired, enter a zero for leave blank) for the loss. Note: Do not use a negative sign with your answer. 1 b. Combite depreciabon for Year 3