Ivanhoe Technology purchased equipment on January 4, 2019, for $250,520. The equipment had an estimated useful life of 6 years and a residual value of $8,720. The company has a December 31 year end and uses straight-line depreciation. On December 31, 2021, the company tests for impairment and determines that the equipment's recoverable amount is $95,640. (a) Your answer is incorrect. Calculate the equipment's carrying amount at December 31, 2021 (after recording the annual depreciation). Carrying amount Dec. 31, 2021 $ 122320 eTextbook and Media List of Accounts Save for Later Attempts: 2 of 3 used Submit Answer