Madison Company purchased a machine on February 1, 2021, for $200,000. On December 31,2022, when the book value of the machine is $190,000, Madison Company checks to see if the machine is impaired. Due to recent technological advances Madison Company expects the machine to generate future cash flows of $140,000. If Madison Company estimates the current fair market value of the machine is $120,000 on December 31,2022 , what amount of impairment loss (if any) should be recorded? $50.000 570,000 Madison Company estimates the machine is $120,000 on December 31,2022, what amount of impairment loss (if any) should be recorded? $50.000 $70.000 $90,000 $35.000 The asset is not impaired