On July 1, 2020, Stephen & Curry Inc. set up a debt instrument to give Kevin Durant Co. $100,000. The agreement states Kevin Durant Co. will pay the full amount on maturity (July 1, 2026), and interest payments every December 31^st over the term of the investment. On February 1, 2023, Stephen & Curry noticed the past two interest payments were not paid (defaulted). Additionally, there were news articles stating Kevin Durant Co. is looking to undergo major financial reorganization.

Under ASPE, which of the following statements are correct:

Question 2 options:

	There is evidence of possible impairment, an impairment test needs to be carried out
	There are no indicators of impairment
	Impairment has incurred, a write down to the debt instrument is required
	Impairment needs to be assessed every year