Plastix Inc. bought a molding machine for $$740,000$ on June $1,2020.$ The company expected to use this machine to extrude plastic toys for the next eight years, when the machine would be sold for $$60,000.$ On June $1,2022,$ their major customer gave notification that they were terminating Plastix as a supplier. Plastix estimates that the machine will generate $$520,000$ in future cash inflows from other customers and the fair value of the machine is $$460,000.($Plastix uses straight$-$line depreciation$)$

a$.$ Is this asset impaired on June $1,2022?$