USE THE FOLLOWING INFORMATION FOR #1-4: Motown has the following information available: $ 124,500 4.00% 4,875 101 At purchase date of February 1, 20X1: Cost of Machine Sales Tax Installation charge Useful Life Motown uses the straight-line method of depreciation At December 31, 20X6 (testing date): Fair market value of machine Expected future cash flow from use and sale of machine Market rate of interest $ $ 43,000 38,000 6.50% 1.) On the answer sheet write in the net book value (adjusted basis) of the machine at 12/31/X6: 2.) What is the amount of the unrecoverable basis of the asset if any? 3.) Calculate the impairment loss on this asset. Write your answer on the cover sheet. If there is no impairment loss then write "zero" on the cover sheet USE THE FOLLOWING INFORMATION FOR #1-4: Motown has the following information available: $ 124,500 4.00% 4,875 101 At purchase date of February 1, 20X1: Cost of Machine Sales Tax Installation charge Useful Life Motown uses the straight-line method of depreciation At December 31, 20X6 (testing date): Fair market value of machine Expected future cash flow from use and sale of machine Market rate of interest $ $ 43,000 38,000 6.50% 1.) On the answer sheet write in the net book value (adjusted basis) of the machine at 12/31/X6: 2.) What is the amount of the unrecoverable basis of the asset if any? 3.) Calculate the impairment loss on this asset. Write your answer on the cover sheet. If there is no impairment loss then write "zero" on the cover sheet