3. On 2 January 2019, the company obtained for free from the Malaysian government a license that allows the company to export goods to overseas for an indefinite period. On that date, the fair value of the permit was RM1,000,000. Since it is free, no record was made to account the license. The company adopts a revaluation model to measure the intangible assets. i. Refer to additional information (3), based on relevant accounting standard, discuss the choice of accounting policy for intangible assets i.e. MFRS 138 and MFRS 120. Also, explain the appropriate accounting treatment if the license is only for a period of ten years. 16:12