*Exercise 12-13 (Part Level Submission) At the end of 2017, Pronghorn Corporation owns a licence with a remaining life of 9 years and a carrying amount of $527,000. Pronghorn expects undiscounted future cash flows from this licence to total $532,000. The licence's fair value is $421,500 and disposal costs are estimated to be nil. The licence's discounted cash flows (that is, value in use) are estimated to be $475,100. Pronghorn prepares financial statements in accordance with IFRS. *(a) Determine if the licence is impaired at the end of 2017. The licence at the end of 2017. Prepare any related entry that is necessary. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Account Titles and Explanation Debit Credit Attempts: 0 of 3 used