Innovative Inc. has a piece of equipment with a carrying amount of $176,500 Technology has changed, indicating that the machine may be impaired. A new machine with updated technology could be purchased for $351,000. A used machine of similar vintage is listed on-line for $161,000. The estimated discounted cash flows from continuing to use the asset are $149,000. The undiscounted cash flows from the use of the asset are $181,000. The estimated value if the company sold the asset less commission costs is $156,000. Required: 1. What is the recoverable amount? 2. What is the amount of impairment?