TBTF Incorporated purchased equipment on May 1,2021 . The company depreciates its equipment using the double-declining balance method. Other information pertaining to the equipment purchased by TBTF follows: Cost of the equipment Estimated useful life and physical life of the equipment (in years) \begin{tabular}{rr} $ & 6,556,094 \\ \hline & 6 \\ $ & 655,609 \\ \hline \end{tabular} Estimated residual value and salvage value of the equipment On TBTF's year end date of December 31, 2021, the company conducted an impairment test of the equipment. The following amounts were determined in the process of conducting the test: \begin{tabular}{|l|r|r|} \hline Value-in-use of equipment & $3,599,215 \\ \hline Fair value less costs to sell of equipment & $ & 3,564,772 \\ \hline Estimated future undiscounted cash flows the equipment is expected & \\ to generate & $ & 3,671,199 \\ \hline Fair value of the equipment & $3,566,554 \\ \hline \end{tabular} Required: 1. Calculate the amount of equipment depreciation to be recorded by TBTF for the 2021 year. (2 marks) 2. Assume that TBTF follows ASPE. Calculate the amount of the impairment loss (if any) and record any applicable journal entry for impairment. (4 marks) 3. Assume that TBTF follows IFRS. Calculate the amount of the impairment loss (if any)