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Question 3: Below is information related to equipment owned by ABC on December 31, Year 1 (after adjusting journal entry for depreciation is made): Cost | Accumulated depreciation Undiscounted expected future net cash flow Present value of expected future net cash flow 500,000 300,000 160,000 130,000 As of December 31, Year 1, the equipment has a salvage value of $20,000 and is expected to produce 500,000 more units over its remaining useful life. ABC uses the units-of-production depreciation method. a. What is the amount of impairment loss (if any) to be recorded at December 31, Year 1? b. How much depreciation should be taken on the equipment in Year 2, assuming 100,000 units were produced in Year 2