An entity owns a car that was involved in an accident at the year end. It is barely useable, so the value in use is estimated at $$1,000.$ However, the car is a classic and there is a demand for the parts. This results in a fair value less costs to sell of $$3,000.$ The opening carrying amount was $$8,000$ and the car was estimated to have a life of eight years from thestart of the year. Identify the recoverable amount of the car and any impairmentrequired.