Question 4: Robertson Inc. bought a machine on March 31, 2000 for $300,000. The machine had an expected life of 20 years and was expected to have a salvage value of $30,000. Robertson depreciates the machine using the straight-line method. On July 1, 2012, the company reviewed the potential of the machine and determined that its undiscounted future net cash flows totaled $150,000 and its discounted future net cash flows totaled $105,000. The fair market value for the machine was $110,000.

Compute and record the impairment loss, if any, on July 1, 2012.

What amount will the machine be reported at after the impairment test?