The company ARL Inc. has been evaluating the impairment indicators to comply with IFRS. Information regarding operating assets is as follows: Equipment: The asset's net carrying value on the date of impairment is $705,000. To measure the impairment loss, the company projected the asset's future cash flows as follows: 1. Determine the impairment loss (if any): $ (3 points) 2. Justify your answer ( 2 points) Explanation and calculations