RFP Inc. has a new CFO who has come to you for some advice. In preparing the March 31, 2021, year-end financial statements, he became aware of the fact that one of the assets of the company may be impaired. He has done the following initial investigation: Carrying value $800,000 Fair Market Value $740,000 Costs to sell $ 7,400 When pressed further, he estimates that the asset will have another 10 years of useful life and is expected to generate cash flows of $75,000 per year. The company can borrow funds at 5% and follows ASPE. The CFO wants to know if impairment needs to be recorded and, if so, how much