A non$-$current asset was purchased for $2$m several years ago and revalued after $5$

years to $3$m$.$ At this stage, a revaluation reserve of $1$m was created. In the

current year, an impairment review is undertaken and the fair value of the asset is

found to be $1\mathrm{.}2$m$.$the value in use for the asset is $0\mathrm{.}9$m

a$)$ What is the recoverable amount of each asset?

b$)$ Calculate the impairment loss for each of the three assets