A plant which is classified as property, plant and equipment(IAS 16) using the cost model is to be transferred to the'held for sale' classification. It has a cost of $726 000 and its accumulated depreciation to date of transfer $145 200. This asset has never been impaired. On the date of transfer: the fair value is $508 200 with estimated costs to sell of $36 300, and the value in use is $435 600. The impairment consequences are as follows: a) the asset is not impaired in terms of ias 36 impairment of assets or ifrs 5 non current assets held for sale and discontinued operations. b) the asset is impaired in terms of ias 36 impairment of assets but is not impaired in terms of ifrs 5 non current assets held for sale and discontinued operations.