1. An asset is purchased at Jan 1N for a cost of CU12,000 and it is depreciated over 4 years (straight line). At the end of year 2 an impairment test is conducted - the fair value less the cost of disposal is of CU5,500 and the value in use is of CU5,600. a) Determine the carrying amount for all 4 years in the absence of any impairment test b) Discuss the consequences of the impairment test c) Compute the value of the depreciation for year 3 and the carrying amount