Question 6 (1 marks): ABC Co is developing a new production process. During 20X3, expenditure incurred was $100,000, of which $90,000 was incurred before 1 December 20X3 and $10,000 between 1 December 20x3 and 31 December 20X3. ABC Co can demonstrate that at 1 December 20X3, the production process met the criteria for recognition as an intangible asset. The recoverable amount of the know-how embodied in the process is estimated to be $50,000. At the end of 20X3, what is the amount of the intangible asset recognized