solve part C only!

QUESTION 3. a) Explain the term impairment loss as per IAS 36 b) List the disclosure requirements of impairment loss as per IAS 36 c) Mukwano Industries, a manufacturing company in Uganda purchased an equipment (3Marks) (5 Marks) help in manufacturing paper bags in January 2013 for $2,000,000.The company's financial year ends on 31t December of every year. The estimated useful life for this equipment is 10 years. At the end of 2017 advances in technology and government legislations rendered the equipment obsolete, The company could sell the equipment for $500,000 and it would incur a cost of $10,000 to sell it. If the company kept the equipment, the anticipated cash flow it would generate over the next five years is $700,000 and at that point it could be sold for $50,000 (Note: the salvage value forms part of the cash flows). Required: i. Compute the impairment loss if any for the equipment in 2017 after the (9Marks) government legislation. Income statement extract in 2017 ii. (3Marks)