At the end of 2020 . Novak Corporation owns a licence witha remaining life of 10 years and a carning ancant of 5507000 Novak expectsundiscounted future cashflows from this licence to totat \$511.500. The Scence ' fair value is $402.100 and disposil conts are estimated to be nil. The licence's discounted cash flows (that is value in usel are estimated fo be $447,000. Novak formares financial statements in accordance with IFR5. (a) Determinesi the ficence is inpaired at the endof 2020