At the end of 2020, Flint Corporation owns a licence with a remaining life of 10 years and a carrying amount of $500,000. Flint expects undiscounted future cash flows from this licence to total $505,300. The licence's fair value is $396,000 and disposal costs are estimated to be nil. The licence's discounted cash flows (that is, value in use) are estimated to be $447,600. Flint prepares financial statements in accordance with ASPE. Determine if the ficence is impaired at the end of 2020.