Use the following information to answer questions 5 and d6 On January 1, 2017, Sigh and Sons acquired a piece of equipment on January 1, 2017 for $400,000. The equipment useful life is 10 years and its residual value is estimated at $50,000. The straight-line method of depreciation is used. On January collected the following information about the equipment: 1. 2020, the company decided to test the equipment for impairment and Fair value Costs to sell Value-in-use Undiscounted future cash flows $290,000 1,000 287,000 293,000 5) Assuming Sigh and Sons is a public company that applies IFRS, calculate the impairment loss to be recorded on the equipment in 2020: a) $2,000 b) $5,000 c) $6,000 d) $8,000