Jurassic Company purchased equipment for $900,000 on June 1 2020. DDB method is used, based on a 5-year life and $1,000 salvage value. At the end of 2021, Jurassic found that the expected future net cash flows from the use of the assets are expected to be $410,000. The fair value of the equipment is $380,000. Is this equipment impaired? If the answer is yes, prepare the journal entry to record the impairment loss.