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On 1 January 2 0 X 1 Corcoran Bakery Company recognised a brand 'Tubbycakes' as an intangible asset at its acquisition cost of $ 5

On 1 January 20X1 Corcoran Bakery Company recognised a brand 'Tubbycakes' as an intangible asset at its acquisition cost of $50,000 in accordance with
IAS 38. The brand was determined to have a useful life of 10 years. On 31 December 20X2 the brand was valued by a brand valuation agency at $64,000.
On 31 December 20X3, after negative press coverage of Tubbycakes products, the brand's fair value fell to $25,000.
Which of the following is recognised in the year ended 31 December 20X3?

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