PROBLEM 3) 25 pts ng al priwollot er sqmo iH to easritun od pol Presented below is information for equipment owned by Porto Company at December 31, 2025: ynamo H Cost Accumulated depreciation to date Expected future net cash flows Jead 2 consle $5,600,000 Fair value blorbole bois etildi. 000.0 admed 640,000 4,000,000 2,720,000 Assume that Porto will continue to use this asset in the future. As of December 31, 2025, the equipment has a remaining useful life of 4 years. Instructions agnim (a) Apply the 2 step test for impairment. (b) Prepare the journal entry (if any) to record the impairment of the asset at December 31, 2025 0.0 (c) Prepare the journal entry to record depreciation expense for 2026.