4. Due date: 13Ell June 2021, 11.59 pm via lIoodle Dropbox. Question 1: Intangible Asset [3 Marks] Brilliant Ltd acquires copyrights to the original recordings of a famous singer. The agreement with the singer allows the company to record and rerecord the singer for five yea rs. During the initial six month period of the agreement, the singer is very sick and consequently cannot record. The studio time that the company blocked had to be paid even during the period the singer could not sing. The following are the oosts were inourrecl by the company: A. Legal cost of acquiring the copyrights $11million E. Operational loss {studio time lost, etc.) during startup period - $3 million C. Massive advertising campaign to launch the artist -$2 million Reguirecl: Discuss which ofthe aboye cost from {Pl-C} is eligible to he recognized as an intangible asset using IAS 38