Please explain part C of this problem, and how to solve it

Smith's Domino Manufacturing Company learned that one of its cutting machines is obsolete. Although the company will continue to use this machinery in the future, management believes that an impairment write-down is required. The following information relates to the cutting machine: ET(Cick the icon to view the information.) The firm estimates that the machine has a useful life of 10 years and it has used it for 5 years. It has no salvage value. Read the requirements. i Data Table - X i Requirements X Description Cutting Machine a. Prepare the journal entry required to record the impairment loss. Cost 3,228,000 b. Assuming that Smith's uses the straight-line method with no residual value, prepare the journal entry to record the revised depreciation expense for the g value of the asset at this time? Prepare any Accumulated depreciation (up to the date of the impairment test) 1,285,000 first year immediately following the impairment. Total estimated future cash flows 1,238,000 C. Assume that 2 years following the impairment write-down, the fair value of the asset falls to $726,000. The sum of the undiscounted future cash flows is Total discounted future cash flows 1,061,000 $747,000. What is the carrying value of the asset at this time? Prepare any Estimated fair value 1,065,000 journal entry necessary to reflect the change in fair value. Costs to sell 8,500 d' on the first line of the journal entry table and Remaining useful life from the impairment date 5 years Print Done Print Done