QUESTION 22 Use the information below for the following two questions: Pepe, Inc. purchased equipment on January 1, 2018 for $1,700,000. The equipment is depreciated on the triple declining balance method over an estimated useful life of 25 years, with a salvage value of $70,000. The equipment passes the recoverability test on December 31, 2018. On December 31, 2019, the management projects the annual undiscounted future net cash flows from this equipment to be $50,000 and the present value of these future cash flows to be 5615,170. How much impairment loss should Pepe report at the end of 2019? S-0- $166,480 $647,102 $701,310 QUESTION 23 On December 31, 2020, the management of Pepe revises its projection of the annual undiscounted future net cash flows from this equipment to be 535,000 and the present value of these future cash flows to be $574,300. How much impairment loss should Pepe report at the end of 20207 $0 $32,950 $73,820 $584,202