Question 2 Oriole Company owns a trade name that was purchased in an acquisition of Ivanhoe Company. The trade name has a book value of $3,900,000, but according to IFRS, it is assessed for impairment on an annual basis. To perform this impairment test, Oriole must estimate the fair value of the trade name (using IFRS 13). It has developed the following cash flow estimates related to the trade name based on internal information. Each cash flow estimate reflects Oriole's estimate of annual cash flows over the next 8 years. The trade name is assumed to have no salvage value after the 8 years. (Assume the cash flows occur at the end of each year.) Cash Flow Estimate $373,000 627,500 751,000 Probability Assessment 20 % 50 % 30 % Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF 1. (a) What is the estimated fair value of the trade name? Oriole determines that the appropriate discount rate for this estimation is 8%. (For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round final answer to 0 decimal places, e.g. 5,275.) Estimated fair value LINK TO TEXT LINK TO VIDEO