Questio On December 31, 2018, Whalen Enterprises must measure its impairment loss for plant and equipment. Whalen has determined that the broadcast licens impaired. The projected future undiscounted cash flows, projected future discounted cash flows, and fair values of the plant and equipment are listed below Click the icon to view the cash flows and fair values.) Determine the impairment loss and the revised annual depreciation expense Prepare any necessary journal entries to record the impairment Begin by computing the impairment loss for the plant and equipment (Use a minus sign or parentheses for any loss amounts.) Plant and Equipment LOGS Impairment Loss Next, prepare the journal entry necessary to record the impairment. (Record debits first, then credits Exclude explanations from any journal entries) Account December 31, 2018 Determine the revised annual depreciation expense The annual depreciation expense is $ Choose from any list or enter any number in the input fields and then continue to the next question Save for Later license is not d below. Plant and Equipment Asset Group Cost Less: Accumulated Depreciation/Amortization Carrying value 4,220,000 (2.110,000) 2.110,000 Future cash flows (occurring at the end of each year) Remaining Life Year $ N- 2019 2020 2021 2022 2023 2024 640,000 440,000 384,000 Total undiscounted future cash flows 1.464.000 Print Done now occurring at the end of W e each year) Remaining Life Year S 2019 2020 2021 640,000 440,000 384,000 2022 2024 Total undiscounted future cash flows 1,464.000 5 Total discounted future cash flows at 5% Fair value 1,340,330 1236.000 one