At the end of 2020, Aylmer Inc owns an intangible asset with a remaining life of 10 years. Aylmer follows IFRS. Carrying Value (end of 2020) Undiscounted future cash flows Discounted future cash flows (value in use) Fair value Costs to sell Remaining useful life in years $ $ $ $ $ Goodwill 525,000 535,000 480,000 425,000 10 Instructions: a) Provide any required entries at December 31, 2020 regarding impairment for the intangible asset. If no entry is required comment on why. Date Description Dr Cr Show rough work here: b) Assume the recoverable amount is calculated to be $450,000 at the end of 2021, with no change in the fair value. Determine if the intangible asset should be impaired at the end of 2021 and prepare any related journal entry that is necessary. Date Description Dr Cr