Question - Oh No! inc. uses a special piece of equipment in its packaging business. The equipment was purchased on 1/1/2002 for $6,000,000 and had an estimated useful life of 6 years and no salvage value. On december 31, 2003, new technology was introduced that accelerated the obsolescence of Oh No!'s equipment. The controller estimates that expected future net cash flows on the equipment will be $3,250,000 and that the fair value of the equipment is $3,000,000. What is the amount of impairment on the equipment?