Question 1 1 pts Desert Reports the following for a piece of machinery. Demand for the product the machinery produces has declined so Desert deems it appropriate to test the asset for impairment. Balances are current as of the date of the impairment check. Cost $490,000 Accumulated Depreciation $ 80,000 Fair Value $420,000 Undiscounted Sum of Net Future $400,000 Cash Flows Is the asset impaired? Yes No