Determine if the trademark is impaired on december

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Problem 1: SwiftyLimited has a trademark with a carrying amount of $83,900, and expected useful life of 15 years. As part of an impairment test on December 31, 2020, due to a change in customer tastes, Swifty gathered the following data about the trademark for the purposes of an impairment test: fair value $45,500; fair value less costs to sell $42,400; value in use $96,100; and undiscounted future cash flows $121,000. Assume that Swifty is reporting under IFRS. Determine if the trademark is impaired on December 31, 2020.

Reference no: EM132808138

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