Impairment. Presented below is information related to equipment owned by Finley Company at December 31, 2012. Cost $7,000,000 Accumlated depreciation to date ,800,000 Expected future net cash flows 5,000,000 Fair value 3,400,000 Assume that Finley will continue to use this asset in the future. As of December 31, 2012, the equipment has a remaining useful life of 4 years. Instructions (a) Prepare the journal entry (if any) to record the impairment of the asset at December 31, 2012. (b) Prepare the journal entry to record depreciation expense for 2013. (c) The fair value of the equipment at December 31, 2013 is $4,100,000. Prepare the journal entry (if any) necessary to record this increase in fair value