A company bought a land for $5m. One year later, a buyer is willing to pay $4m for the land. The valuation of the land by a certified professional valuer is $3.8m. A comparable piece of land is selling for $3.9m. What is the impairment loss?

1)

$1.2m

2)

$0.0m

3)

$1.0m

4)

$1.1m