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The following information relates to asset X: Fair value less cost to sell: R45 000 Value in use: R48 000 Carrying value: R50 000 Based

The following information relates to asset X:

Fair value less cost to sell: R45 000

Value in use: R48 000

Carrying value: R50 000

Based on the information above, explain with REASONS the following:

a) Whether impairment exists?

b) What is the recoverable amount?

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