You have learned that your competition, Newman industries, has just developed a new process that will greatly diminish the demand for one of your current products. Below are data related to the equipment used in processing your current products: Cost $200,000; Accumulated Depreciation $60,000 Revised expected future cash flows: $12,000 per year for 10 years and the cost of capital is 5% Other helpful info: A fairly active second market for this machine exists and machines of similar quality and age sell for approximately $60,000.

Using the information above, the amount of impairment recognized under IFRS would be?

Using the information above, the USGAAP recoverability test compares the book value to what amount?

Using the information above, the amount of impairment necessary under USGAAP should be? (use whole dollars with no dollar sign but with commas)