In the production of spare parts, Syarikat Snoopy uses machinery. In December 2020, a rival launched its own collection of spare parts. Such spare parts are sold at a much lower price. Thus, for the next three years, the company expects a 40 to 50 per cent decrease in sales.

The following information has been gathered for Syarikat Snoopy:

1. At the date of calculation, the carrying value of the machinery is RM35,000.
2. At present, the machinery is depreciated at a rate of 5 per cent on a straight-line basis and has a remaining useful life of five years.
3. The value of the machinery is 12,000 on the second-hand market. It is estimated that the cost of selling the machinery would be RM3,000.
4. The discounted net cash inflow from the machinery over the remaining useful life of the asset (including disposal proceeds) is valued at RM9,700.
5. The current residual value of the machinery is estimated at RM1,200.

You are required to calculate the amount of impairment loss.