Riley acquired a non－current asset on 1 October 2009 at a cost of $100,000 which had

Riley acquired a non－current asset on 1 October 2009 at a cost of $100,000 which had

Riley acquired a non-current asset on 1 October 2009 at a cost of $100,000 which had a useful economic life of ten years and a nil residual value.The asset had been correctly depreciated up to 30 September 2014.At that date the asset was damaged and an impairment review was performed.On 30 September 2014, the fair value of the asset less costs to sell was $30,000 and the expected future cash flows were $8,500 per annum for the next five years.

The current cost of capital is 10% and a five year annuity of $1 per annum at 10% would have a present value of $3·79

What amount would be charged to profit or loss for the impairment of this asset for the year ended 30 September 2014().

A、$17,785

B、$20,000

C、$30,000

D、$32,215