ABC Corporation capitalized its patent costs at $40,000 at the beginning of the first year. After 10 years of use, there is no residual patent value. The straight line method is used to calculate the amortization. In the third year, adverse economic conditions developed, which led to a significant decrease in the demand for products. On December 31, year three, the company developed the following patent-related estimates: expected future cash flows of $27,200, present value of expected future cash flows of $24,400 / fair value net of $25,200. At the end of the fifth year, the management decided that there was a significant improvement in economic conditions, which resulted in an enhanced demand for the products. The following patent estimates have been developed as of December 31, Year 5: Expected future cash flows are $22,400/(undiscounted) and recoverable amount is $21,600.

Required: Under an IFRS form. 1. What is the book value of the patent that must be reported in the balance sheet from year one to year ten? 2. What is the accumulated amortization balance from the first year to the tenth year? 3. What is the maximum amount that can be refunded? 4. Make all necessary daily restrictions