Jessup Corporation's balance sheet includes the following asset: Equipment $95,000 Accumulated depreciation: (25,000) Carrying amount $70,000 After performing its annual review for impairment, Jessup obtains the following data: Asset value in use: $58,000 Fair value less selling costs: $62,000 Required Assuming Jessup-uses the rational entity impairment-model,1 A.+Calculate the recoverable amount. (3-marks) B.+ Calculate the impairment loss. (3 marks)T C+ Prepare the entry to record-the impairment-loss. (4 marks)