the information that follows relates to equipment owned by headlands limited at december$31$m$2023$ cost $10440000$ accumulated depriciation to date $1160000$ expected future net cash flows$($undiscounted$)8120000$ expected future net cash flows $($discounted$,$value in use$)7366000$ fair value $7192000$ coststo sell $($costs of disposal $)58000$ assumethat headlands will continue to use this asset in the future $,$as of decembe$31,2023$ the equipment has remaining a useful life of four years headlands uses the straight $-$line method of depriciation $,$ Assume that headlands is a private companythatfollows ASPE $1-$ prepare the journal entry at december$31,2023$ to record asset impairment ifany $2-$ prepare the journal entry to record depriciation expense for$20243-$ the equiment fair value at december$31,2024$ is$$7\mathrm{.}54$ million prepare the journal entry if any, to record the increasein fair value