b) Selai Telecom is mobile telecom operator that purchased a 4G license for Rials 200 million in 2014 which is valid for a 10-year period for a small annual fee. The company expected that the license will generate revenues of Rials 50 million per year for the next 8 years. However, after the first year of operations, the market reception of the new technology is not very encouraging, and the company is forced to revise its estimate of annual cash flows down to Rials 30 million per annum. Assume present value factor for annuity to be 3.79. Further, due to rapid advancement in the technology standards, it now expects new technology to take over in 5 years thereby eliminating any economic benefits from the 4G license. Required: Calculate the impairment loss after first year. (10 Marks)