Witz corporation purchased $100,000 of hales inc. 6% bonds at par, and witz classifies its investment as available-for-sale. unfortunately, a combination of problems at hales and in the debt market caused the fair value of the hales investment to decline to $70,000 during 2021. witz believes it is more likely than not that it will have to sell the investment before its fair value recovers. when witz applies the cecl model to account for its investment, witz calculates that, of the $30,000 drop in fair value, $10,000 of it relates to credit losses and the $20,000 remainder relates to noncredit losses. witz's accounting for this impairment will reduce before-tax net income for 2021 by: