On 1 January 2020, the following information is available about a Rocket owned by Longford Company: Cost $95,000,000; Accumulated Depreciation $45,000,000. Until 1 January 2020, the Rocket has not had any Loss on Impairment. On 1 January 2020, Longford Company finds that the Recoverable Amount of the Rocket is $40,000,000. The remaining life of the Rocket on 1 January 2020 is 5 years and the Residual Value is zero. On 1 January 2021, Longford Company finds that the Recoverable Amount of the Rocket is $37,000,000. Q 16 What is the Loss on Impairment (if any) on the Rocket on 1 January 2020? Q 17 What is the Recovery of Impairment Loss (if any) on the Rocket on 1 January 2021? Q 18 What is the Carrying Amount of the Rocket on 31 December 2021?