Sanders Corporation operates a factory in Arizona. Due to a change in business climate, an impairment test is deemed appropriate. Management has acquired the following information for the assets at the plant:

Cost	$	240,000,000
Accumulated depreciation		119,600,000
Estimate of the total cash flows
to be generated by selling the products manufactured
at the Arizona factory, not discounted to present value		107,600,000
Present value of estimated future cash flows		91,600,000
Estimated fair value less cost to sell of the Arizona factory determined by appraisal		87,600,000

Required: 1. Determine the amount of impairment loss, if any. 2. If a loss is indicated, prepare the entry to record the loss. 3. Determine the amount of impairment loss, if any, assuming that Sanders prepares its financial statements according to International Financial Reporting Standards (IFRS). Also assume that the estimated fair value of the factory approximates fair value less costs to sell.