Waterway Industries bought a machine on January 1, 2011 for $815000. The machine had an expected life of 20 years and was expected to have a salvage value of $83000. On July 1, 2021, the company reviewed the potential of the machine and determined that its future net cash flows totaled $396000 and its fair value was $289000. If the company does not plan to dispose of it, what should Waterway record as an impairment loss on July 1, 2021? O $34700 O $0 O $24000 O $141700 Waterway Industries purchased a machine on July 1, 2018. for $1480000, The machine was estimated to have a useful life of 10 years with an estimated salvage value of $83000. During 2021, it became apparent that the machine would become uneconomical after December 31, 2025, and that the machine would have no scrap value. Accumulated depreciation on this machine as of December 31, 2020, was $358000. What should be the charge for depreciation in 2021 under generally accepted accounting principles? O $307400 O $224400 O $241000 O $207800