(Solved): The company ARL Inc. has been evaluating the impairment indicators to comply with IFRS. Information ...

The company ARL Inc. has been evaluating the impairment indicators to comply with IFRS. Information regarding operating assets is as follows: Equipment: The asset's net carrying value on the date of impairment is \( \$ 705,000 \). To measure the impairment loss, the company projected the asset's future cash flows as follows: 1. Determine the impairment loss (if any): \( \$ \) (3 points) 2. Justify your answer ( 2 points) Explanation and \( { }^{*} \) calculations.