Depreciation Conundrum

Searay $380$ Inc. $($Searay$)$ is a competitor of Formula $400$ SS Inc. The company has

changed from ASPE to IFRS, and the year$-$end is December $31.$ To expand the company,

on January $1^{st},2024,$ they purchased a new property for a lump sum price of $$45$ million;

$30$ million for the land and $15$ million for the building. The building was estimated to

have a useful life of $20$ years and uses the straight$-$line depreciation method. On

December $31,2027,$ before recording depreciation, Searay evaluated its assets for

impairment. The fair value less costs of disposal of the land was determined to be $$27$

million and value in use $25\mathrm{.}2$ million. The fair value less costs of disposal of the building

was determined to be $9\mathrm{.}2$ million and value in use of $8\mathrm{.}9$ million.

The company CFO, Vanceless Nominee Jr$.$ needs to calculate the depreciation for $2024$

to $2026.$ Then determine if any the amount of impairment loss for December $31,2027.$

Also do not forget to calculate depreciation expense for $2027.$