YOU CAN DO IT Corporation has equipment with a carrying value of 450,000 on December 31, 2021. The following information was available on December 31, 2021: Expected net cash flows (undiscounted)- P420,000 Expected net cash flows discounted at 7%- P400,000 Fair value, using the assets with other assets- P415,000 Fair value, assuming the assets are sold stand-alone- P428,000 What is the impairment loss that the Company must report in its 2021 income statement for this equipment?

CHOICES:

P30,000

P35,000

P50,000

P22,000