Takeout Limited is a diversified company involved in a wide range of activities in the food take aways. Take out following activities during the year The company purchased a brand on 1 January 2020 for R3 000000 . At acquisition, the estimated useful life of the brand was 15 years. At acquisition it was determined that that there is no active market for the brand. At 31 December 2020 , the directors of Takeout believed that the brand is now worth R4 000 000 . Required Explain, giving reasons, how each of the above transaction should be dealt with in the financial statements of Eat Limited for the year ended 31 December 2022 , in accordance with IAS 38 Intangible assets. Your answer should focus on recognition and measurement an include calculations where relevant. Round of to the nearest Rand