Since the recoverable amount exceeds new carrying value for the asset, under IFRS, the impairment loss can be reversed in 2026 to increase carrying value up to the amount that it would have been without the prior impairment loss. Therefore the maximum amount that can be reversed is 28,235 (240,000 - 211,765). 2022 2023 2024 2025 2026 Carrying Value $400,000.00 $380,000.00 $360,000.00 $240,000.00 $225,882.35 Depreciation Expense $(20,000.00) $(20,000.00) $(20,000.00) $(14,117.65) $(14,117.65) Impairment Loss $- $- $(100,000.00) $- $- Reversal of impairment $- $- $- $- $28,235.29 Carrying Value on balance sheet $380,000.00 $360,000.00 $240,000.00 $225,882.35 $240,000.00 Amount to be reported on Income Statement $(20,000.00) $(20,000.00) $(120,000.00) $(14,117.65) $14,117.65