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The following information relating to Plant and Equipment was taken from the financial records of Iris Ltd at 30 June 20X1:
$
Carrying amount 780,000
Fair value 520,000
Cost of disposal 6,000
Value in use 600,000
Plant and equipment are measured using the revaluation model in accordance with AASB 116.
Required:
Question 1: Write in the box below the amount of any Impairment Loss that would be recognised by Iris Ltd at 30 June 20X1 in accordance with AASB 136.
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