Question: The answer is P7,000 . I just need the complete solution. Yellow Company is testing an asset for impairment. The carrying amount of the asset

The answer is P7,000. I just need the complete solution.

Yellow Company is testing an asset for impairment. The carrying amount of the asset is 985,000. The following data has been obtained by Yellow in relation to the asset. I Future cash flows expected to be derived from the asset, 9100,000 I Estimated fair value of the asset, 980,000 0 Present value of future cash flows expected to be derived from the asset, P60,000 0 Costs of disposal for the asset, P2,000 How much should be recognized as impairment loss

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