Obaid plans to continue using this asset in the future. As of December 31,2022 , the equipment has a remaining useful life of 4 years. Requirement: a. Is the asset consideredrimpaired for accounting purposes? Show how you determined this. b. Prepare the journal entry to record impairment, if one is required. If no impairment, write not applicable. c. Obaid computes depreciation using the straight-line method. Prepare the journal entry to record depreciation expense for 2023 , assuming no residual value. d. At the end of 2023 , the fair value of the equipment had increased to $205,000. Prepare the journal entry to record the increase in fair value according to U.S. accounting standards