Top? Menswear, Ltd. reported net plant and equipment of$1,616,000. These assets cost $2,512,000 with accumulateddepreciation taken to date of $896,000. Based on recently assessednegative? evide Conduct the impairment test for plant and equipment at the end of the year to determine whether Luke Top Menswear's assets are impaired. \begin{tabular}{ll} Step 1: & \( \begin{array}{c}\text { Plant 1 answer