on 1 January 2016 is being depreciated on the straight al value of 40.000. The conm lind 7.7 An asset which cost 200,000 basis over a five year period with an estimated residual value which owns the asset has conducted an impairment review at 31 December 2017 and the remainder of its estimates that the asset will generate the following cash flows over useful life: Inflows 000 45 35 60 Year Outflows 000 2018 2019 2020 The cash inflow for 2020 includes the estimated residual value of 40,000. The asset could be sold on 31 December 2017 for 110,000. Disposal costs would be 6,000. (a) Determine the asset's value in use, assuming that all cash flows occur at the end of the year concerned and using a discount rate of 8%. (b) Determine the asset's recoverable amount. (c) Calculate the amount of the impairment loss that has occurred and explain how this should be accounted for Calculate the amount of depreciation that should be charged in relation to the asset for each of the remaining years of its useful life. (d)