ABC Company has a trademark with a carrying amount of $83,750, and expected useful life of 15 years. As part of an impairment test on December 31, 2014, due to a change in customer tastes, ABC gathered the following data about the trademark for purposes of an impairment test: fair value $45,000; fair value less costs to sell $40,000; value in use $95,200; and undiscounted future cash flows $125,000. Assume that ABC is reporting under ASPE. Determine if the trademark is impaired on December 31, 2014.
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