Supermax Ltd applies the cost model to record 'plant and equipment' in its books. You are assigned a task to assess the valuation of the following three different items of its plant and equipment of Supermax Ltd. at the reporting date ending 30th June 2021. Asset | B Carrying amount $ 200 000 100 000 160 000 Fair value $ 210 000 90 000 170 000 Costs of disposal $ 6 000 2 000 4 000 Value in use $ 220 000 96 000 164 000 You are required to: (a) How is an impairment loss calculated in relation to a single asset accounted for? (1 mark) (b) Calculate the recoverable amount for each of the three items of plant and equipment. (2 marks) (c) Prepare the necessary journal entries to record adjustments for impairment, where necessary