on january 1 2018 bridgeport ltd purchased equipment for 896000 . the equipment was assumed to have an 8 year useful life and no residual value and was to be depreciated using the straught line method . on january 1 2020 , bridgeport 's management became concerned that the equipment may have become obsolete. management calculated that the undescontinued future net cash flows from the equipment was $644000 , the discounted future net cash flow was $571200 and the current fair value of the equipment was$ 560000 and the cost to sell was zero . a. Record the journal entry to record the imparment loss if any using the cost recovery impairment model . assume that bridgeport is applying ASPE to determine wether there is impairment or not. you must show all the steps in the impairment test. b. Record the journal entry to record the imparment loss if any using the rational entity impairment model . assume that bridgeport is applying IFRS to determine wether there is impairment or not. you must show all the steps in the impairment test.