machine for $500,000 that will produce the next generation of brake rotors. It estimates that the new machine will have a 5-year useful life and no salvage value. Khamsah uses straight-line depreciation and has a December 31 fiscal year-end. Instructions: a) Calculate the depreciation on the machine for 2020 and 2021. (2 Marks) b) Show how the machine would be reported on the December 31, 2021 balance sheet. (2 Marks) c) Khamsah Company determines that the fair market value of the factory machine is $100,000 on December 31, 2022. Prepare the journal entry to record an impairment ( if any ) on this date. (2 marks) CALCULATIONS