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Rexel Limited has an item of plant which has undergone an impairment review at year end (December 2019). At the review, the following information was produced
Fair Value of plant: R 1 400 000
Costs of disposal: 2% of Selling price
Revenue and costs per annum for the remaining useful life are noted below:
Year Revenue (R ) Costs (R )
2020 960,000 240,000
2021 880,000 220,000
2022 700,000 290,000
A discount rate of 10% is applicable. (No estimated residual value for the plant)
Required:
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