[10 marks total; approx. 15mins ] PV of $1 3 4. Tofino Outfitters Ltd, owns a logo that was purchased to generate future revenues. 3 The logo has a book value of 6 According to IfRS, this intangible asset must be assessed for impairment 1,000,000 ? on an annual basis. 8 To perform the impairment test, Tofino Outfitters ud. estimates the fair value 9 of the logo using the guidance provided in IFRS 13. 10 The following cash flow estimate has been developed based on internal information. 11 12 13 14 15 16 17 18. The estimate reflects the anoual cash flows anticipated for 9 The "risk-adjusted" rate is determined to be 0. The "risk free" rate is determined to be PV of an Annuity At the end of the period, the logo is expected to have no residual value. Assume the cash flows occur at the end of each year. REQUIRED: [1) Compute the estimated fair value of the logo Summarize all relevant inputs to support your computation. Clearly SHOW your work below