Zip Zap Technologies is in the process of assessing some of its equipment for possible impairment as a result of some significant technological advancements within the industry in which the company operates. After some investigation, Zip Zap determines that the equipment is indeed impaired and the company records an impairment loss of $120,000. Assuming the equipment's carrying value prior to the impairment loss was $750,000, what was the equipment's recoverable amount as determined by Zip Zap? $630,000 O $240,000 O $870,000 $120,000 00