In a recent 10-K report, United Parcel Service states it “is the world’s largest package delivery company, a leader in the United States less-than-truckload industry, and the premier provider of global supply chain management solutions.” The following note and data were reported:

Required:
1. Reconstruct the journal entry for the disposal of property and equipment during the year.
2. Compute the amount of property and equipment that United Parcel wrote off as impaired during the year, if any.

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NOTE 1-SUMMARY OF ACCOUNTING POLICIES Property, Plant and Equipment We review long-lived assets for impairment when circumstances indicate the carrying amount of an asset may not be recoverable based on the undiscounted future cash flows. If the carrying amount of the asset is determined not to be recoverable, a write-down to fair value is recorded. Fair values are determined based on quoted market values, discounted cash flows, or external appraisals, as appropriate.