Please just show me how these are calculated. I don't want to be handed the answer, but I can't seem to find the correct formulas.

Presented below is the information related to equipment owned by Wildhorse Company at December 31, 2025.

Cost$10,620,000Accumulated Depreciation to date1,180,000Expected future net cash flows8,260,000Fair value5,664,000

Wildhorse intends to dispose of the equipment in the coming year. It is expected that the cost will be $23,600. As of December 31, 2025, the equipment has a remaining useful life of 5 years.

a) Prepare the journal entry (if any) to record the impairment of the asset at December 31, 2025.

b) Prepare the journal entry (if any) to record depreciation expense for 2026.

c) The asset was not sold by December 31, 2026. The fair value of the equipment on that date is $6,254,000. Prepare the journal entry (if any) necessary to record this increase in fair value. It is expected that the cost of disposal is still $23,600.