Question 2 (20 marks) Delta Ltd owns a special machine used in the construction material business. The machine originally cost $5,000,000, and it has been used for 3 years out of expected useful life of total 10 years (straight line method). A decrease in the construction demand in the industry has caused the company to re- assess the future cashflows from using the machine. The company now estimates that it will receive cashflows of $450,000 per year for 7 years. The company uses a 8% discount rate to compute the present value for this investment. A similar machine recently sold for $3,300,000 in the second hand market. Delta Ltd estimates that it would cost $66,000 to sell the machine. 2.1 Compute the amount of Delta's machine impairment, if any, under US.GAAP Your answer 2.2 Does the result of impairment loss change if Delta reports financial statements under IFRS? Your