Madison Company purchased a machine on February 1, 2012, for $120,000. On December 31. 2018, when the accumulated depreciation balance tor the machine was $40,000, Madison Company checks to see if the machine is impaired. Due to recent technological acivances Madison Company expects the machine to generate future cash flows of $60,000. If Madison Company estimates the current fair market value of the machine is $50,000 on December 31,2018 , what amount of impairment loss (if any) shauld be recorded? \begin{tabular}{|l} $40,000 \\ $30,000 \\ $60,000 \\ $70,000 \\ The asset is not impaired. \end{tabular}