The information that follows relates to equipment owned by Buffalo Limited at December 31, 2020: Cost Accumulated depreciation to date $7,380,000 820,000 Expected future net cash flows (undiscounted) 5,740,000 Expected future net cash flows (discounted, value in use) 5,207,000 Fair value 5,084,000 Costs to sell (costs of disposal) 41.000 Assume that Buffalo will continue to use this asset in the future. As at December 31.2020, the equipment has a remaining useful life of four years, Buffalo uses the straight-line method of depreciation Assume that Buffalo is a private company that follows ASPE D 1. Prepare the journal entry at December 31, 2020, to record asset impairment, if any.