IMPAIRMENT : The company ARL Inc. has been evaluating the impairment indicators to comply with IFRS. Information regarding operating assets is as follows: Equipment: The assets net carrying value on the date of impairment is $705,000. To measure the impairment loss, the company projected the assets future cash flows as follows:

Future Period	Cash Flow Projection	Present Value Function at 8% Using Spreadsheet Formula
Year 1	$400,000	=PV(0.08,1,0,400000) = $370,370
Year 2	250,000	=PV(0.08,2,0,250000) = 214,335
Year 3	140,000	=PV(0.08,3,0,140000) = 111,137
Year 4	60,000	=PV(0.08,4,0,60000) = 44,102
Total	$850,000	$739,944

1. Determine the impairment loss (if any): $ _______

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