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Part $1$

On December$31,$ an entity analyzed a finite life trademark with a net carrying value of$$ $$750,000$ for impairment. The entity determined the$$ following:

Fair value$($less costs to$$ sell$)$

$$$$700,000$

Present value of future cash flows

$710,000$

What is the impairment loss that will be reported on the December $31$ income statement under$$ IFRS?