The information that follows relates to equipment owned by Waterway Limited at December 31, 2023: Cost Accumulated depreciation to date $7,020,000 780,000 Expected future net cash flows (undiscounted) 5,460,000 Expected future net cash flows (discounted, value in use) 4,953,000 Fair value Costs to sell (costs of disposal) 4,836,000 39,000 Assume that Waterway will continue to use this asset in the future. As at December 31, 2023, the equipment has a remaining useful life of four years. Waterway uses the straight-line method of depreciation.