The management of petro garcia inc. was discussing whether certain equipment should be written off as a charge to current operations because of obsolescence. this equipment has a cost of $ 2,058,300 with depreciation to date of $ 914,800 as of december 31, 2014. on december 31, 2014, management projected its future net cash flows from this equipment to be $ 686,100 and its fair value to be $ 526,010 .the company intends to use this equipment in the future. prepare the journal entry (if any) to record the impairment at december 31, 2014.at december 31, 2015, the equipment