On December 31, ACME Incorporated determined that there were indications that a piece of land used as a testing site may be impaired. The following information is available regarding the land: Carrying value: $1,800,000 Undiscounted net future cash flows: $1,700,000 Discounted net future cash flows: $1,157,000 Fair value: $1,500,000 Disposal costs: $150,000 Required: Record the land impairment (if any) assuming that ACME follows IFRS and applies the rational entity impairment model. Round final answers to the nearest dollar and show calculations below the journal entry (if required)