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Use the information below to answer the required question INFORMATION XUZ Ltd purchased a...

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Accounting

Use the information below to answer the required question

INFORMATION XUZ Ltd purchased a building on 1 October 2021. The following costs were incurred: Original purchase price R4 620 000 Admin and overhead R 225 000 Transfer/Legal fees R 300 000 The building had a residual value of R400 000 and an estimated useful life of 20 years On 31 December 2021, the fair value was R445 000, costs to sell R100 000 and restructuring costs R125 000 and the value in use was R425 000. Assume a tax rate of 28 %

REQUIRED: Calculate the impairment loss for the year ended 31 December 2021

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