A machine was bought $3$ years ago with a useful life of $6$ years at $10,000$ USD and a

scrap value of $1000$ USD. The firm used straight$-$line method to depreciate the

machine. Now, the machine has been impaired due to electric malfunction. So the

firm wishes to calculate the impairment loss to get some tax benefit. In that regard

they checked the market for selling the machine and got a price quote of $4000$ USD.

Cost of selling the machine is $10\%$ of selling price. The remaining Cf$$s of the machine

is expected to be as follows:

Year $4$: $2000$

Year $5$: $2000$

Year $6$: $1500$

a$.$ Discount rate is $10\%.$ What is the Impairment loss under IFRS and under US

GAAP