Sandhill Corporation uses straight-line depreciation, prepares adjusting entries annually, and has a December 31 year end. It purchased equipment on January 1, 2020, for $195,700. The equipment had an estimated useful life of five years and a residual value of $21,640. On December 31, 2021, the company tests for impairment and determines that the equipments fair value is $108,400.

Calculate the amount of the impairment loss, if any.

Impairment loss

$