JAR owns a forklift for moving freight that was purchased in 2016 for $9,300. The forklift is being depreciated using straight line over a 10 year useful life and has a $2,100 salvage value. This depreciation for the forklift was already recorded in 2020, however, analysis indicates the undiscounted future cash flows the forklift will provide are $6,000 and its fair value is estimated to be $5,800. Determine if the forklift is impaired and if so, record the appropriate impairment as an adjusting entry. JAR estimates the new salvage value of forklift to be $1,200 and that the forklift will last for 4 more years (i.e. it will last until the end of 2024). Compute the new annual depreciation, but do not record it, list the new annual depreciation on the line to the right.