1.Lichen Ltd owns a machine that has a carrying amount of $92,000 at the year end of 31 March 2019. Its market value is $90,000 and costs of disposal are estimated at $3,000. A new machine would cost $150,000. Lichen Ltd expects it to produce net cash flows of $32,000 per annum for the next three years. The cost of capital of Lichen ltd is 7%. What is the impairment loss to be recognized in the financial statements at 31 March 2019?